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Indian MMTC to import maize at lower duties
19.02.2019 18:11 "Agro Perspectiva" (Kyiv) —
Indian State-run trader MMTC Ltd is going to import maize at lower taxes for the domestic consumers such as starch makers and poultry farmers, Reuters says referring to the MMCT report.
It is to be admitted, now India imposes 60% tax on maize import but under the tariff rate quota it can allow import at lower or zero duty.
«Import would be organized after issuance of notification by the Indian Government and MMTC obtaining necessary license,» it said.
It is to be admitted, this season unfavorable weather conditions have reduced the Indian maize output and boosted prices, thus boosting the chances the Government will grant duty-free maize import for the first time since 2016.
It is to be reminded, as of 2016, India had allowed State-run PEC Ltd to import maize under the tariff rate quota at zero percent duty.
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