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Prohibition Of Wheat Export: DGFT Directs Regional Authorities To Issue Registration Of Contracts To Wheat Exporters

Mariya Paliwala
17 May 2022 5:00 AM GMT
Prohibition Of Wheat Export: DGFT Directs Regional Authorities To Issue Registration Of Contracts To Wheat Exporters
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The Directorate General of Foreign Trade (DGFT) has issued directions for the export of wheat for the implementation of the notification prohibiting the export of wheat under the Foreign Trade Policy, 2015-2020 (FTP).

The DGFT has directed the regional authorities to issue registration of contracts (RCs) to the wheat exporters who have irrevocable letters of credit, so that they can honour their contracts.

The Notification No.06/2015-2020 dated May 13, 2022 amended the export policy of wheat under S.No.59 of Chapter 10 of Schedule 2 of the ITC (HS) Export Policy from "Free" to "Prohibited" with immediate effect.

The DGFT has imposed the condition that, as a transitional arrangement, the export will be allowed in the case of shipments where an irrevocable letter of credit (ICLC) has been issued on or before the date of the Notification dated May 13, 2022, subject to the submission of documentary evidence as prescribed.

The other condition was that the export would also be allowed on the basis of permission granted by the government of India to other countries to meet their food security needs and based on the request of their governments.

"Export (as per Para 2.17 and 9.12 of the Handbook of Procedure, 2015 2020) of wheat for which irrevocable commercial letters of credit (ICLC) have been opened on or before May 13, 2022 and subsequently registered with the jurisdictional Regional Authorities of DGFT, as per provisions under Para 1.05 (b) of Foreign Trade Policy, 2015-2020, is permitted," the trade notice read.

The DGFT directed all RAS to issue Registration of Contracts (RCS) to the exporters of wheat, preferably within a prescribed time limit of 24 hours, on submission of an application, complete in all respects, by the exporters.

Trade Notice 06/2022-23

Dated: 14.05.2022

Click Here To read/Download Notice

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