DGFT launches investigation in to sugar shipments redirection to Sri Lanka
India is investigating the diversion of 64,000 tons of sugar, exported under Maldives concessions, to Sri Lanka. The DGFT and Sri Lankan authorities are probing altered invoices and redirections. Sugar exports to the Maldives are temporarily suspended as investigations continue.
An investigation has been initiated into why a sugar shipment from India that was supposed to be channelled to the Maldives under special concessions ended up in Sri Lanka. According to some Indian media, the Directorate General of Foreign Trade (DGFT) is now looking into the case. The DGFT is the authority in charge of exports and imports under India’s Trade Ministry.
An investigation is underway into a shipment of 64,000 tons of sugar that was exported from India on October 25. Although it was exported at the preferred rates specified in the Maldives concessions, a portion of the consignment was redirected to Sri Lanka, according to media sources.
According to reports, sugar exports to the Maldives have been temporarily halted. With the situation brought to light, Sri Lanka has suspended issuing clearance to the sugar cargo from India and has launched its own investigation.
According to Indian media reports, efforts are currently ongoing to determine which Sri Lankan enterprises are acquiring sugar for the Maldives. As of October, 80 containers of sugar intended for the Maldives had been transported to Sri Lanka. A bill of landing from September 30 reveals that the end destination for 270 tons of sugar transported from India’s Nhava Shiva Port is Colombo, Sri Lanka. The invoice mentions $580 per tonne. A Colombo company owes $156,600 to a shipper in the UAE. The consignee is not identified, and the form says ‘to be advised’, implying that it will be handed over to the shipping company’s designated recipients.
On September 23, another invoice for $1.5 million was issued without naming the consignee. Businesses allege that the consignment was redirected to Colombo after invoices were changed. It cannot be exported to any nation other than the one specified in the export documentation and customs clearance forms.
Once the items are released by Customs, the consignee can be changed as required. Some shipments have also transited from Nhava Shiva Port to Malaysia’s Port Klang.
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Source Link : Maritime Gateway
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