Introduction: The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, issued Notification No. 51/2023 on 8th December. This notification brings amendments to the export policy of De-Oiled Rice Bran, extending the export prohibition until March 31, 2024.
Detailed Analysis: The amendment, in exercise of powers conferred by the Foreign Trade (Development & Regulation) Act, 1992, affects Chapter 23 of Schedule -2 of ITC HS export policy. Specifically, it modifies the policy condition for ITC HS code 2306, which encompasses “OIL-CAKE AND OTHER SOLID RESIDUES, WHETHER OR NOT GROUND OR IN THE FORM OF PELLETS, RESULTING FROM THE EXTRACTION OF VEGETABLE OR MICROBIAL FATS OR OILS, OTHER THAN THOSE OF HEADING 2304 OR 2305.”
Under the amended policy, while the description and present policy remain unchanged, the export of De-Oiled Rice Bran under ITC HS code 2306 and any other HS code is prohibited until March 31, 2024. This is a slight modification of the previous Notification No. 21/2023 dt. 28th July, 2023.
Conclusion: The extension of the export prohibition on De-Oiled Rice Bran emphasizes the government’s commitment to regulating foreign trade in line with evolving policies. Businesses involved in the export of commodities covered by ITC HS code 2306 need to take note of this amendment and adjust their strategies accordingly. For further clarification or inquiries, the Director General of Foreign Trade, Santosh Kumar Sarangi, can be contacted via email at [email protected]. This notification, issued from F.No. 01/91/191/030/AM21/EC/E-36363, marks a significant development in India’s foreign trade landscape, influencing businesses engaged in the specified category.
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Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi
Notification No. 51/2023-DGFT | Dated: 8th December, 2023
Subject: Amendment in Export policy of De-Oiled Rice Bran
S.O. 5222(E). – In exercise of powers conferred by Section 3 read with section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, the Central Government hereby, in slight modification of Notification No. 21/2023 dt. 28th July, 2023, makes following amendment in Chapter 23 of the Schedule -2 of ITC HS export policy related to export policy of De-Oiled Rice Bran:
| SI. No. | ITC HS code | Description | Present Policy |
Policy Condition |
| 94 A | 2306 | OIL-CAKE AND OTHER SOLID RESIDUES, WHETHER OR NOT GROUND OR IN THE FORM OF PELLETS, RESULTING FROM THE EXTRACTION OF VEGETABLE OR MICROBIAL FATS OR OILS, OTHER THAN THOSE OF HEADING 2304 OR 2305 |
Free | However, export of De- Oiled Rice Bran under ITC HS code 2306 and under any other HS code is prohibited till 31.03.2024. |
2. Effect of the Notification:
Export prohibition of-De-Oiled Rice Bran is extended till 31st March, 2024.
(Santosh Kumar Sarangi)
Director General of Foreign Trade
Ex-Officio Additional Secretary, Government of India
E-mail: [email protected]
(Issued from F.No. 01/91/191/030/AM21/EC/E-36363)
