Search Result for : Food Ministry

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 is likely to increase the duty on the import of sugar to 60% from the present 40% in order to control the cheap imports and to maintain local prices.  Any decline in the domestic prices of sugar will impact the millers' capacity to pay sugarcane dues to farmers. In the wake of lower sugar production expected during the current marketing year of 2016-17, the government, in April, had permitted 5 lakh tonnes of raw sugar import at zero duty in order to boost local supply.  “We are monitoring global price movement closely. Prices in the international market are falling and some traders are keen to import even at high customs duty. So, we are considering raising the import duty,” ...

The Dollar Business Bureau The government is not likely to cut the import duty on sugar citing sufficient availability of the sweetener in the backdrop of fall in consumption this year and an expected bumper crop next year. The government is also making sure that there is no rise in the retail price of the commodity by keeping an eye on the sugar futures trading. The present retail price of sugar stands at 40/kg and it has an import duty of 40 per cent with no overseas purchase happening as of now. As per a senior Food Ministry official, there will be adequate stocks of sugar in the domestic market signifying an unlikely scenario for import. “There is no question of reducing the import duty at ...

The Dollar Business Bureau In order to ensure enough supply of sugar in the local market, the government may impose a 25 percent customs duty on export of the sweetener. “There is a rising trend in the sugar prices in the global market. To make profits, traders may enhance the sugar exports. To keep a check on this, it is proposed to impose a 25 percent duty. This will keeps sufficient supply of sugar and the prices will also be under control,” said Ram Vilas Paswan, Minister of Food & Public Distribution, in a tweet on Thursday.  The overall production of sugar in India is likely to drop in 2016, mainly due to drought in major sugar-growing states including Maharashtra and Karnataka. Since April, ...

Source: PTI Prices of pulses will not be allowed to cross Rs.120 a kg, Union Food Minister Ramvilas Paswan said on Monday. Paswan told reporters that his ministry has prepared a buffer stock to ensure that prices of pulses does not spiral. About 50 tonne pulses have been purchased and an additional 26 tonne was being imported, the Minister said. "Out of this import, 10 tonne has already reached us," he said adding another one lakh tonne pulses were been acquired from the market. He said production of around 173 lakh tonne of pulses was expected in the country this year, while the country consumes 235 lakh tonnes of pulses. The Minister said the Centre wants there should be no hoarding of pulses. Paswan, who hails from ...

Source: PTI The Centre may raise import duty on wheat to 25% from the current 10% to restrict overseas purchases when domestic stocks are surplus. In August, the government imposed a 10% import duty on wheat – for the first time since 2006 – after private flour millers started importing from Australia amid sluggish supply of high-protein wheat varieties used to make pasta and pizzas. Millers are resorting to imports despite surplus stocks of other varieties of wheat with FCI, the nodal agency for food grain procurement and distribution. “The Food Ministry has proposed raising import duty on wheat to 25% from 10% to cut imports and protect the domestic market. The matter will be discussed at a meeting with the revenue department ...

The Dollar Business Bureau In an effort to improve liquidity of sugar producers and clear the surplus stock of the sweetener, the government has fixed the export target of 4 million tonnes for the next sugar season beginning October. “Minimum Indicative Export Quotas (MIEQ) are being specified for 2015-16 sugar season commencing from October 1, 2015. Export quotas of 40 lakh tonnes of all grades of sugar ; namely raw, plantation white as well as refined, have been prorated amongst sugar factories, by taking into account their average production of three years including the current (estimated/provisional) and last two sugar seasons,” Food Ministry said in a circular issued on Friday. New factories starting production for the first time during 2015-16 sugar seasons ...

Source: PTI After the Prime Minister directed to explore possibility of increasing sugar exports, the Food Ministry is looking at various options including the barter trade of the sweetener against import of farm items, as part of steps to offload surplus stock and clear cane arrears. Last week, Prime Minister Narendra Modi called a meeting to discuss the crisis in sugar sector which has resulted in cane arrears of over Rs 14,000 crore to farmers. Modi directed ministries concerned to boost sugar exports and increase ethanol blending with petrol. According to sources, "The Food Ministry is working on various options to open the export line for sugar. It is also looking at allowing sugar export under the barter system with countries ...