Floor Price Imposed On Import Of Glufosinate

New Delhi, Jan 25 (KNN) The Indian government has implemented strategic import restrictions on the herbicide Glufosinate, targeting shipments priced below Rs 1,289 per kilogram. 

The Directorate General of Foreign Trade (DGFT) issued a notification detailing the new regulatory measure, which aims to modulate the chemical's import dynamics.

Under the new guidelines, imports of Glufosinate and its salts—with a minimum purity of 95 percent—will be subject to licensing requirements when the Cost, Insurance, and Freight (CIF) value falls below the specified threshold. 

Conversely, imports with a CIF value of Rs 1,289 per kg or higher will remain unrestricted and can proceed without additional governmental approval.

Recent trade data underscores the significance of this policy intervention. During the current fiscal year's initial eight months, Glufosinate imports totaled USD 177 million, with projections indicating a potential annual figure of USD 238.13 million. 

The primary source countries for these imports have been China, the United States, and Israel.

The targeted restriction appears designed to potentially regulate the domestic market, control import volumes, and potentially protect local agricultural chemical producers from low-cost international competition. 

By establishing a price-based import mechanism, the government can exercise nuanced control over the herbicide's inbound trade.

(KNN Bureau)