Search Result for : Export Duty

The Dollar Business Bureau In a bid to further ease the sugar exports and to clear surplus stocks, the Government on Wednesday allowed export of 2 million tonnes of the sweetener till the end of the current marketing year (October to September). Earlier, the Government has scrapped the 20% export duty and doubled the duty on sugar imports to 100%. Besides, the Government has permitted the exports of white sugar until September this year under the scheme of Duty Free Import Authorisation (DFIA), in which exporters can import sugar duty-free within the next three years, till September 2021. Sugar mills in the country have to pay Rs.13,899 crore to sugarcane farmers as on March 21, 2018, as per the official data. Sugar mill are allowed ...

The Dollar Business Bureau The Government has removed the duty on sugar export in order to improve international sales of the sweetener and lift its local prices as the country is facing excess production of the commodity.  Currently, there is an export duty of 20% on raw sugar, white or refined. “In order to promote exports with the objective of evacuating surplus stocks from the country, the Government has decided to remove customs duty on export of sugar from its current level of 20% to zero percent,” Ministry of Consumer affairs, Food and Public Distribution said in a statement. “This will also help in maintaining demand and supply balance and thereby stabilising the domestic sugar prices in the country,” it added. The impact of the ...

The Dollar Business Bureau Bauxite production in India is likely to increase to 49.4 million tonnes by 2021 from 22.08 million tonnes in 2016, according to a report.   The production of bauxite in the country is estimated to be 26.1 million tonnes in 2017, an increase of 18 compared to last year 2016, the report by BMI Research said. The production of the metal is likely to reach to 49.4 million tonnes in 2021, the report said.  “We forecast Indian bauxite production to grow from 26.1 million tonnes in 2017 to 49.4 million tonnes in 2021, averaging an annual growth rate of 17.5% during 2017-2021, significantly higher than the annual average 3.9% growth over 2012-2016,” the Research report said.  The growth of bauxite production in ...

The Dollar Business Bureau The government on Thursday levied a customs duty of 20% on the exports of sugar to boost local supply and control domestic prices which are at a high of Rs.40 per kg. The decision comes at a time when food prices have increased sharply on food items such as tomato, pulses and wheat. "To keep a tab on the domestic sugar prices, the government has taken a decision to impose customs duty of 20% on the exports of raw sugar, refined or white sugar," according to a release by the Finance Ministry. The Central Board of Excise and Customs (CBEC) released the same in a notification. Due to a sharp increase in global prices, customs duty has been imposed to curb ...

Chhattisgarh Chief Minister met Union Finance Minister Arun Jaitley and sought a package of Rs. 4,000 crore for the state in the upcoming Budget The Dollar Business Bureau Union Railways Minister Suresh Prabhakar Prabhu and the Chhattisgarh CM Raman Singh at the signing ceremony of a MoU for formation of JV Company, in New Delhi on Tuesday   Chhattisgarh Chief Minister Raman Singh hailed the Centres decision to impose the minimum import price (MIP) on steel and suggested that an increase in export duty on iron ore will also encourage the use of mineral in in-house manufacturing and reduce the countrys dependency on imported metal products. On Tuesday, Chhattisgarh Chief Minister met Union Finance Minister Arun Jaitley and sought a package of Rs. 4,000 ...

Chief Minister Laxmikant Parsekar said the Union government can either slash duty from existing 10% to 5% or completely abolish it Source: PTI   The state's mine owners recently had written to the Prime Minister Narendra Modi, requesting him to abolish the export duty The Goa government on Saturday said it will take up the issue of slashing export duty on iron ore to facilitate the exports with the Centre. We will look into the matter by taking up the issue with the Union Mines Ministry, state Chief Minister Laxmikant Parsekar told reporters on Saturday. He said the Union government can either slash the duty from existing 10% to 5% or completely abolish it. The state's mine owners recently had written to the Prime Minister Narendra ...

The industry body says that prices of iron ore with Fe content of 56% have nose-dived from $119 per tonne FOB in January 2011 to $21 a tonne in Nov 2015 Source: PTI Goa Mineral Ore Exporters Association has written to the Prime Ministers Office urging it to remove the 10% export duty on iron ore fines with Fe content below 58% and the 30% export duty on iron ore lumps   A mineral ore exporters body from Goa has approached the PMO seeking removal of export duty on iron ore, saying it will help in higher revenues of $750 million a year. Industry body GMOEA has written to the Prime Ministers Office urging it to remove the 10% export duty on iron ore ...

Sai Nikesh | The Dollar Business Owing to already-existing demand overseas, in the current year since January, around 15 tonnes of human hair has been exported to Rangoon, Myanmar from Tiruchi International Airport (TIA), sources from cargo department of TIA told The Dollar Business on Thursday. Around 2-3 consignments, each containing 1000 kg of human hair is reaching the airport every month, mostly from the regions like Bangalore, Chennai, among others, added the sources. “Rangoon, Myanmar account to 90% share of India’s human hair exports,” said one of the key sources from Air Asia Airlines, one of the leading carriers of Indian human hair exports, besides Malaysian Airlines. However, according to V Karthi, Secretary, Indian Human Hair Exporters Association, Indian human ...