KARACHI: The Directorate General of Customs Valuation issued reference values for cocoa paste and tomatoes paste.
The Directorate General is populating Valuation Database Values for different items wherein it was observed that declarations are of wide range and do not correctly reflect values of the items as traded in the international market.
During the scrutiny of previous clearance data, it was observed that cocoa paste, falling under the PCT heading 1803.1000, are being assessed at different values and certain transactions are on very low side.
The Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. Therefore the VDB values of cocoa paste are as cocoa paste China origin US$7.80 per kilogram, cocoa paste Ghana origin US$5.50 per kilogram, cocoa paste Singapore origin US$8.70 per kilogram and cocoa paste France/EU origin US$8.70 per kilogram.
Meanwhile, the directorate issued another valuation Database of tomatoes paste.
The Directorate General found that the VDB values of tomatoes paste are as tomatoes paste all origins US$1.50 per kilogram.
