The Directorate of Customs Valuation, Lahore, has established new customs export values for eight grades of Baryte, with prices ranging from US$80 to US$295 per metric ton (PMT). The updated values were outlined in Valuation Ruling No. 1 of 2025.
Baryte, also known as barite, is a mineral composed of barium sulfate. It has various industrial uses, including as a weighting agent in drilling mud for oil and gas exploration.
The customs valuation was determined under the powers granted by Section 25A of the Customs Act, 1969. The revision followed an application from Bolan Mining Enterprises (BME), which sought a review of the existing valuation ruling (No. 3/2024).
BME argued that the previous ruling only applied to Baryte with a specific gravity (SG) of 4.2, while other grades, also exportable, required distinct valuation.
In response, the Directorate initiated an evaluation process to determine the correct customs values for all grades of Baryte. This included three meetings with stakeholders to discuss the issue. During these sessions, stakeholders presented proposals, which were examined alongside market data, export trends, and documents submitted by BME.
The ruling reflects a comprehensive review of export data, international market trends, and stakeholder submissions to establish appropriate export values for the various grades of Baryte.
