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Traders concerned over import of duty-free oil from Nepal under SAFTA pact
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Monday, 31 March, 2025, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The edible oil traders have raised concern over the import of duty- free edible oil from Nepal and other SAARC countries under SAFTA Agreement.
National President of All India Edible Oil Traders Federation Shankar Thakkar said that after the government imposed 20% duty on imported oils, large quantities of duty-free refined soybean oil and palm oil are being imported from Nepal and other SAARC (South Asian Association for Regional Cooperation) countries under the SAFTA (South Asian Free Trade Area) Agreement.
"As a result, domestic oil traders and oilseed farmers are facing difficulties. We demand the government to take action on duty-free oils being imported from Nepal and other SAARC countries," said Thakkar while adding that this import is causing a loss of revenue worth crores of rupees to the government every month.
Meanwhile, taking this matter seriously, it is learnt that the Central Government has issued a new notification. Thakkar said that if this notification is followed properly, then there is a possibility of curbing duty-free import of agricultural and food products including edible oil from Nepal and other member countries of the SAARC organisation to a great extent.
Thakkar said that the Customs Department has issued a notification in this regard on March 18, in which it has been made mandatory for importers and exporters to submit Proof of Origin for goods imported under concessional duty.
Earlier, Certificate of Origin was sufficient for this. This change has been made to prevent violation of rules under the SAFTA Agreement and to ensure correct information. This step is expected to curb the flood of edible oils coming from Nepal and other SAARC countries.
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