The centre has decided to allow the state owned PEC to import 5 lakh tonnes of maize at zero duty to meet starch and poultry industry's demand. According to the Commerce Ministry officials a circular in this regard was issued in December last year. <br/><br/>At present, maize attracts 50 per cent import duty. The zero duty concession on the overseas purchase of maize has been given under the tariff rate quota TRQ following representation from poultry, starch and animal feed industry. <br/><br/>The country is facing a supply shortage of maize used in the starch, poultry and animal feed industry on possible fall in maize output for the second consecutive year because of drought in ten states. <br/><br/>According to the industry, maize output is likely to drop by up to 40 per cent in the 2015-16 due to deficit in monsoon rains. Maize production had dropped to 23.67 million tonnes in 2014-15 too from the record of 24.26 million tonnes in the previous year.
News On AIR | January 6, 2016 5:05 PM
Govt allows duty-free import of maize up to 5 lakh tonnes