Chattogram customs sizes 200 grams of rhodium
Chattogram customs office has seized a consignment of 200 grams of rhodium, a rare metal that is used as catalysts in the chemical industry, for declaring less than the current market price.
According to the document, Nasir Opal and Crockeries Industries Limited, a concern of Nasir group, imported only 200 grams of 'platinum rhodium cover" worth $38,580 from China this month.
Customs officials estimated its value at $100,000. However, both sides have not been able to come to a conclusion so far.
According to the announcement, the customs will get Tk 12.36 lakh as revenue from the declared goods. However, the customs authority thinks that if the right price is announced, the revenue will increase several times.
According to customs sources, the consignment was physically inspected due to the goods was imported in very few quantities and its also imported fast time in the country. The consignment was examined twice to identify the actual quantity and actual value of the imported goods.
Customs officials said that the product was announced at $193 per gram but the customs authorities fear that the actual price will be between $498 to $500 per gram.
AKM Sultan Mahmud, deputy commissioner of the house, told The Daily Star that the market price seems to be much higher than the declared price.
The matter has been reported to the importer after initial confirmation, he said adding, since they do not agree, the next decision will be made according to the Customs Valuation Rules.
In this regard, C&F agent Golf BD Enterprise was responsible for unloading the consignment on behalf of the importer.
According to Johnson Matthey PLC, a British multinational speciality chemicals and sustainable technologies company, rhodium is 17 times costlier than gold, 12 times than palladium and 25 times than platinum.