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DGFT Extends Prohibition on De-Oiled Rice Bran Exports until March 31, 2024

DGFT Extends Prohibition on De-Oiled Rice Bran Exports until March 31, 2024

The Directorate General of Foreign Trade (DGFT) has issued Notification No. 51/2023 dated December 08, 2023, announcing the extension of the export prohibition on De-Oiled Rice Bran until March 31, 2024. This extension is in accordance with the powers vested in the DGFT by the Foreign Trade (Development & Regulation) Act, 1992, and the Foreign Trade Policy, 2023. The modification to Notification No. 21/2023 dated July 28, 2023, specifically affects Chapter 23 of Schedule-2 of the ITC HS export policy, pertaining to the export policy of De-Oiled Rice Bran under HS code 2306. The amendment prohibits the export of De-Oiled Rice Bran under ITC HS code 2306 and any other relevant HS code until March 31, 2024. This move aligns with the government’s commitment to regulating the export of certain commodities for strategic and policy reasons.

Case Name:


Extension of Export Ban on De-Oiled Rice Bran by DGFT


Key Takeaways:


  1. DGFT extends the export prohibition on De-Oiled Rice Bran until March 31, 2024.
  2. The amendment affects Chapter 23 of Schedule-2 of the ITC HS export policy, specifically related to the export policy of De-Oiled Rice Bran under HS code 2306.
  3. Exporters are reminded that the export of De-Oiled Rice Bran under ITC HS code 2306 and any other relevant HS code is strictly prohibited during this period.
  4. The extension aligns with the government’s commitment to regulating the export of certain commodities for strategic and policy reasons.


Synopsis:

The Directorate General of Foreign Trade (DGFT) has extended the export prohibition on De-Oiled Rice Bran until March 31, 2024. This extension is in accordance with the powers vested in the DGFT by the Foreign Trade (Development & Regulation) Act, 1992, and the Foreign Trade Policy, 2023. The modification to Notification No. 21/2023 dated July 28, 2023, specifically affects Chapter 23 of Schedule-2 of the ITC HS export policy, pertaining to the export policy of De-Oiled Rice Bran under HS code 2306. The amendment prohibits the export of De-Oiled Rice Bran under ITC HS code 2306 and any other relevant HS code until March 31, 2024. This move aligns with the government’s commitment to regulating the export of certain commodities for strategic and policy reasons.


FAQ


Q1: What is the duration of the extension of the export prohibition on De-Oiled Rice Bran?

A1: The export prohibition on De-Oiled Rice Bran has been extended until March 31, 2024.


Q2: Which government authority issued the notification for the extension of the export ban?

A2: The Directorate General of Foreign Trade (DGFT) issued Notification No. 51/2023 dated December 08, 2023, announcing the extension of the export prohibition on De-Oiled Rice Bran.


Q3: What is the impact of this extension on exporters?

A3: Exporters are reminded that the export of De-Oiled Rice Bran under ITC HS code 2306 and any other relevant HS code is strictly prohibited until March 31, 2024.