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The Directorate General of Customs Valuation in Pakistan has issued a new ruling to revise the assessment values for imported coconut oil. The revised rates are set between $1.92 and $2.52 per kilogramme, depending on the country of origin and whether the shipment is in bulk or retail packaging.
Valuation Ruling No. 2116/2026, issued on October 16 under Section 25A of the Customs Act, 1969, officially supersedes the previous ruling, No. 2042/2026, dated February 10, 2026. Under the new schedule, bulk coconut oil imports from the Philippines and Indonesia are valued at $1.92 per kg, Malaysia at $1.97, Sri Lanka at $2.23, and all other origins at $2.32.
For products in retail packaging, the customs values are fixed at $2.12 per kg for the Philippines and Indonesia, $2.17 for Malaysia, $2.43 for Sri Lanka, and $2.52 for other origins. These benchmarks apply to coconut oil classified under HS Code 1513.1900. Notably, the directorate has excluded virgin and extra virgin coconut oil from these fixed values due to their premium market positioning.
The revision follows a valuation dispute concerning Sri Lankan coconut oil. Importers had challenged the application of international benchmark prices to their specific products, claiming their imports differed from the organic, extra virgin, or refined grades often cited in global indices. This led to a remand of the previous ruling on May 7, 2026, forcing a reassessment based on current market conditions and stakeholder feedback.
During a consultation on October 6, commercial importers and representatives from the Pakistan Biscuits and Confectionery Manufacturers Association argued that prices published by the International Coconut Community (ICC) were unsuitable for their specific grades. However, the directorate noted a lack of substantive evidence from importers to prove the ICC values were restricted to specific premium grades.
To reach the final figures, customs authorities analyzed import data, reviewed wholesale prices from Sri Lanka's Coconut Development Authority, and conducted local market visits. The directorate concluded that transaction values provided by importers lacked sufficient verifiable documentation to be used exclusively. These revised benchmarks will remain in effect until further notice, though importers retain the right to file revision petitions within 30 days under Section 25D of the Customs Act.
Source: Profit by Pakistan Today