FBR Revises Customs/Export Value for Seasonal Fruits, Including Kino
The Federal Board of Revenue (FBR) has revised the customs/export value of seasonal fruits, including Kino, for the period from December 1, 2024, to May 15, 2025. This adjustment comes amid a significant blockage of refunds for exporters of seasonal fruits.
According to a new valuation ruling (4 of 2024) issued by the Directorate General of Customs Valuation Karachi, the revised Export (freight on board) FOB Value for Mandarins (including tangerines and satsumas) and Kino has been set at US$ 410 per metric ton (MT). For exports to Afghanistan, the export value has been fixed at US$ 310 per metric ton.
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The ruling further clarifies that the customs export value for Kino will be applied as the Minimum Export Price.
The adjustment was made after consultations with various stakeholders, including the Trade Development Authority (TDAP), the Federation of Pakistan Chambers of Commerce & Industry, and the All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association (PFVA). Four meetings were held to discuss and analyze the export data, price trends, and arguments submitted by stakeholders.
The FBR adopted the valuation provisions under Section 25A and Section 25(15) of the Customs Act 1969 to determine the new export value. This included conducting a market survey and reviewing international market trends.
The revised export value will be applicable during the winter season, adding pressure on exporters who now face new tax obligations.
