<p>The deadline to avail the customs duty exemption on rice imports will expire on September 30, 2010.Sources said Food Ministry is contemplating on extending the period of duty-free import of rice for one more year in view of high food prices in the country.<br /><br />The proposal in this regard is likely to come before the the Empowered Group of Ministers (EGOM) on food, headed by Finance Minister Pranab Mukherjee, this week, they added.<br />The government had scrapped import duty on rice from 70 per cent in October 2009 to augment domestic supply, as the twin-impact of drought and floods had hit output by as much as 10.05 million tonnes.<br /><br />The customs duty exemption was allowed for import of semi-milled or wholly milled rice, whether or not polished or glazed.According to official estimate, rice production during the kharif season (June-September) of the 2010-11 crop year is estimated to be higher by 6 per cent at 80.41 million tonnes, from 75.91 million tonnes in the year-ago period.<br /><br />But the output will be lower than the 2008 level of 84.91 million tonnes.Apart from rice, the EGOM would consider a proposal to extend the deadline of a scheme, under which the government reimburses losses by up to 15 per cent for the pulses imported by the public sector agencies -- MMTC, STC, PEC and cooperative firm Nafed.</p>
<p>The deadline to avail the customs duty exemption on rice imports will expire on September 30, 2010.Sources said Food Ministry is contemplating on extending the period of duty-free import of rice for one more year in view of high food prices in the country.<br /><br />The proposal in this regard is likely to come before the the Empowered Group of Ministers (EGOM) on food, headed by Finance Minister Pranab Mukherjee, this week, they added.<br />The government had scrapped import duty on rice from 70 per cent in October 2009 to augment domestic supply, as the twin-impact of drought and floods had hit output by as much as 10.05 million tonnes.<br /><br />The customs duty exemption was allowed for import of semi-milled or wholly milled rice, whether or not polished or glazed.According to official estimate, rice production during the kharif season (June-September) of the 2010-11 crop year is estimated to be higher by 6 per cent at 80.41 million tonnes, from 75.91 million tonnes in the year-ago period.<br /><br />But the output will be lower than the 2008 level of 84.91 million tonnes.Apart from rice, the EGOM would consider a proposal to extend the deadline of a scheme, under which the government reimburses losses by up to 15 per cent for the pulses imported by the public sector agencies -- MMTC, STC, PEC and cooperative firm Nafed.</p>