Wheat Quota of 2 Lac for Bangladesh through STC and PEC

[DGFT Notification No. 04 dated 30th August 2010]

Subject: Prohibition on Export of Wheat – exemption for export to Bangladesh.

In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes, with immediate effect, the following amendment to Notification No. 56 /2004-2009, dated 06.08.2010 read with Notification No. 40 /2004-2009, dated 12.05.2010 and also read with Notification No. 33 (RE-2007)/2004-2009 dated 08.10.2007, as amended from time to time.

2.     With immediate effect, following para shall be added at the end of para 2 below Sl. No. 2.10 of Notification No. 56 /2009-2014 dated 06.08.2010:- 

The above quantity of 2 lakh tones of wheat to Bangladesh will be exported by the PSUs of Department of Commerce viz. M/s. STC and M/s. PEC Ltd. as follows:

S.No.

Quantity (MTs)

Name of PSU through which export to be made

1.

1,00,000

STC

2.

1,00,000

PEC

Total

2,00,000.

 

3.     The above export by the PSUs shall be subject to the following conditions:-

(i)    The PSU(s) will engage in these exports by lifting stocks from FCI at prevalent economic cost to FCI plus the margin for the PSUs.

(ii)    The PSUs would lift the quantities of wheat from the Central Pool and export on CIF basis as requested by the Government of Bangladesh.  This would entail additional costs on account of freight, insurance etc. which will be borne by the Government of Bangladesh.

(iii)   Ministry of External Affairs will advise the Government of Bangladesh about the PSU designated to export to that country for entering into contracts only with the designated PSUs.  MEA will also inform the PSU about the designated buying agency in Bangladesh.

4.     All other provisions of the Notification No.33 (RE-2007)/2004-09 dated 08.10.2007, as amended from time to time, shall remain unchanged, and shall continue to apply.

5.     This issues in public interest.