Govt to stop import of crude sunflower seed oil under tariff rate quota

The government on Wednesday said that it has decided to discontinue imports of crude sunflower seed oil under tariff rate quota (TRQ) from April 1 this year.

TRQ is a quota for a volume of imports that enter India at specified or nil duty, but after the quota is reached, the normal tariff applies to additional imports.

"Last date for import of crude sunflower seed oil under TRQ has been revised to March 31, 2023. Further, no TRQs shall be allocated for import of crude sunflower seed oil in 2023-24," the directorate general of foreign trade (DGFT) said in a public notice.

Earlier in January, a similar decision was taken for crude soybean oil.

The duty-free import of 20 lakh MT per year was earlier applicable for two financial years -- 2022-23 and 2023-24 -- for crude sunflower seed oil and crude soya bean oil.

For crude sunflower oil, the TRQ was there till June 30 this year.