In a recent development, the Federal Board of Revenue (FBR) has revised the customs/export value for seasonal fruits, including Kino, as of January 7, 2025. This update, which is effective until May 15, 2025, aims to streamline and adjust the export pricing for these products, particularly Kino, a popular variety of mandarin.
The Directorate General of Customs Valuation Karachi has issued a new ruling, marking a significant change in the export value. Previously, the export value of Kino was set at US$310 per metric ton for exports to Afghanistan. However, with this update, the revised export value is now set at US$410 per metric ton for mandarins, which include varieties like tangerines and satsumas, along with Kino.
This increase in the export value will apply as the Minimum Export Price (MEP) for Kino, meaning this is the lowest price at which the commodity can be exported. The revision comes after detailed consultations and meetings between various stakeholders, including representatives from the Trade Development Authority (TDAP), the Federation of Pakistan Chambers of Commerce & Industry, the All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association (PEVA), and exporters of Kino.
The FBR’s decision to revise the customs/export value follows an extensive review process. The Directorate of Customs Valuation Lahore was tasked with determining the new export value, guided by a letter from the Ministry of Commerce and in line with the Customs Act of 1969. Multiple meetings were held with stakeholders to ensure that the final valuation was both fair and reflective of market trends.
The valuation issue surrounding Kino’s export value was discussed in great detail during these meetings. Proposals and suggestions from all parties involved were carefully analyzed, with the aim of arriving at a fair export price that would benefit both local exporters and the country’s economy. Data from the Pakistan Revenue Automation Limited (PRAL), along with price trends and export statistics, were thoroughly examined to determine the correct value.
The new ruling represents a significant change from the previous export price of US$310 per metric ton, especially since this lower value had previously applied only to exports to Afghanistan. The FBR has now abolished this lower export value, making the updated US$410 per metric ton the standard for exports of Kino, including all types of mandarins.
This revision is an important step towards ensuring that the export values of seasonal fruits like Kino are kept in line with international market trends, benefiting exporters and improving Pakistan’s competitiveness in global markets. By setting the new export value, the FBR aims to prevent undervaluation of exports, which could harm both local farmers and the broader agricultural sector.
As the new valuation ruling is enforced, stakeholders are expected to comply with the updated Minimum Export Price for Kino and other mandarins. This revision will help ensure that exports are accurately priced, facilitating smoother transactions and promoting fairness in the export process. For exporters and businesses involved in the trade of seasonal fruits, this updated valuation ruling is a crucial development to keep an eye on.
In conclusion, the FBR’s decision to revise the customs/export value of Kino and other mandarins is a positive move for Pakistan’s fruit export industry. By carefully reviewing the situation and involving key stakeholders in the decision-making process, the FBR has established a fair and realistic export value that aligns with international standards. This will benefit local farmers, exporters, and the economy as a whole, ensuring that Pakistan remains a strong player in the global fruit export market.
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