Latest news with #ImportMonitoringSystem
Cision Canada
3 days ago
- Business
- Cision Canada
Canada's aluminium industry welcomes today's announcement on measures to protect its industry Français
MONTREAL, /CNW/ - Canada's aluminium industry welcomes Finance Canada's announcement of a series of measures to protect Canadian aluminium producers and workers. "We find that these announcements strike the right balance between sending a strong signal towards focused and accelerated negotiations and using a measured approach through adaptive counter-tariffs and reciprocal procurement policies," said Jean Simard, President and CEO of the Aluminium Association of Canada. "In this rapidly evolving situation, with potentially high financial impacts due to uncontrollable market reactions, we will need and seek agility and speed for government interventions should we reach the 30-day deadline without a positive resolve," he added. The industry also welcomes the Government of Canada's recognition of the fundamental differences between the aluminium and steel markets, and the need for tailored trade measures that reflect those realities. Smelted and cast and additional tariff measures "During the Government of Canada's consultations on improvements to its aluminium Import Monitoring System, Canada's aluminium industry fully supported the use of "Country of Smelt and Cast" provision to address risks of unfair trade within the CUSMA trading space," said Jean Simard. "This fourth measure announced today, including additional tariff measures, comes at the right time and will hopefully be implemented rapidly." As we did back in 2018, we are looking forward to working with our government and union counterparts, over the coming weeks through the Aluminium Taskforce, providing market and evidence-based information towards efficient, coherent and supportive government decision-making made for the aluminium industry, its workers and communities. About the Aluminium Association of Canada Founded in 1990, the Aluminium Association of Canada (AAC) represents the three Canadian world-class aluminium producers: Alcoa, Alouette, and Rio Tinto. Operating nine smelters in Canada, eight of which in Quebec, employing over 9,500 workers. The AAC and its members are active in the development of best practices in health and safety and responsible low CO 2 production. For more information, visit or X @AAC_aluminium.
Mint
31-05-2025
- Business
- Mint
Govt extends duty-free import window for yellow peas till March 2026
The Centre on Saturday extended the duty-free import window for yellow peas until 31 March 2026, aiming to stabilise domestic pulse prices and ensure adequate supply. The extension, notified by the Directorate General of Foreign Trade (DGFT), permits importers to bring in yellow peas without the minimum import price (MIP) condition or port restrictions, provided the bill of lading is dated on or before the new deadline. The liberalised policy is expected to help manage price volatility in the pulses market, particularly as tur and other key pulses continue to face supply constraints. The earlier policy was valid until 31 May 2025. With this extension, the government maintains its calibrated approach to easing import restrictions on select pulses to bridge domestic demand-supply gaps. All imports under this provision will require registration under the online Import Monitoring System, which remains a mandatory compliance requirement. The decision has been taken under the Foreign Trade (Development & Regulation) Act, 1992, and has received the approval of the minister of commerce and industry. The move is likely to ease price pressures ahead of the festive season in major consuming states, according to traders familiar with the matter. It is also expected to benefit pulse processors and millers by ensuring continued access to overseas yellow pea supplies without regulatory hurdles. The government has previously issued a series of notifications to adjust the import policy for yellow peas, including those dated 8 December 2023, 23 February 2024, 5 April 2024, 8 May 2024, 13 September 2024, 24 December 2024, and most recently, 10 March 2025. The latest extension signals a continued intent to retain flexibility in agricultural imports in response to shifting domestic needs. Bimal Kothari, chairman of the India Pulses and Grains Association (IPGA), criticised the government's decision to extend the duty-free import period for yellow peas, saying it could have adverse effects on Indian farmers. 'Allowing imports for such a prolonged period will discourage farmers who cultivate chana from expanding their cultivation area,' Kothari said. He warned that this move could undermine the government's goal of making India self-reliant in pulses by reducing incentives for domestic production growth. The government has launched a mission for atmanirbharta (self-reliance) in pulses, with an outlay of ₹ 1,000 crore over the next six years. As of 31 May, the average retail price of chana dal stood at ₹ 86.26 per kg, compared to ₹ 86.12 per kg a year earlier.
