Search Result for : Sugar

The Dollar Business Bureau The Central government has allowed imports of 3 lakh metric tonnes of raw sugar at a concessional rate of 25% tariff duty. The sugar can be imported only through southern ports such as Tuticorin, Chennai in Tamilnadu, Karaikal in Puducherry, Mangalore in Karnataka, Kakinada, Vishakhapatnam and Gangavaram in Andhra Pradesh. According to the notification released by the DGFT No- 27/2015-2020 dated September 7, 2017, the validity of the tariff duty of 25% is for 60 days ie until the 1st week of November. The move to allow the imports of raw sugar by the government comes after sugar mills in Tamilnadu sought permission to import the commodity duty-free. Harvesting of sugar in the state has come down drastically due to ...

The Dollar Business Bureau The government has allowed the supply of over 23 crores of eggs and 122.23 MT of pulses to Maldives for 2017-18 without any restrictions or prohibition for export, under bilateral trade agreement between Government of India and Government of Maldives during the period 2017-18 w.e.f. April, 2017. A notification No.20/2015-2020 to the effect has been issued by the DGFT on August 14, 2017, mentioning that this decision is effective from April, 2017. It should be recollected that earlier in June the Indian government had agreed to allow the export of 11714.45 MT of potato, 19466.36 MT of onion, 67640.24 MT of rice, 59442.17 MT of wheat flour and 11706.30 MT of sugar for FY of 2017-18 to Maldives. These ...

The Dollar Business Bureau The US Department of Agriculture (USDA) had announced a non-country specific tariff rate quota (TRQ) for exporters of refined sugar from World Trade Organization (WTO) countries. Refined sugar of 1,82,000 metric tons raw value (MTRV) has been allocated for the US fiscal year of 2018, which begins on Oct 1, 2017 till September 30, 2018. Of the 182000 MTRV of sugar, 22000 MTRV of sugar (which also includes 1656 MTRV of specialty sugar) and an additional 160000, TRV for specialty sugars. Imports of organic and other specialty sugars are administered on a first-come-first serve basis in 5 tranches, as detailed below in the USTR report. On October 2, 2017, under the first tranche, 1656 MTRV of all types of specialty sugar ...

The Dollar Business Bureau With an 11% hike in the fair and remunerative price (FRP) of sugarcane, there could be a rise in the retail prices of sugar, industry body National Federation of Cooperative Sugar Factories (NFCSF) said. As per official data presently sugar’s retail prices are at Rs 40-45 per kg. In its public release on Wednesday the government stated that “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for fixing the Fair and Remunerative Price (FRP) of sugarcane at Rs. 255/- per quintal (qt) for sugar season 2017-18 linked to a basic recovery rate of 9.5% subject to a premium of Rs. 2.68 per quintal for every 0.1% point increase ...

By Ranjeet Mahtani & Niraj Hande The most crucial GST Council meeting took place on 18th and 19th May, 2017 in Srinagar, Jammu and Kashmir. The GST Council has finalised seven sets of GST Rules and completed the fitment of most goods and services in various tax brackets in the last two days. Rules The GST Council has approved seven sets of GST Rules which pertain to Composition, Tax Invoice Credit & Debit Notes,Input Tax Credit, Payment of Tax, Refund, Registration and Determination of Value of Supply. The Rules pertaining to Transition and Returns were not finalised and shall require further vetting before approval. The next step will be for Governments, State and Central to now notify these. Rates The GST Council has ...

The Dollar Business Bureau ICRA, in its new report, predicts that the limited duty-free import of sugar allowed by the Government of India will not help ease sugar prices, which have been rising owing to a 19% cut in output this year. The sugar output in the current year is forecasted at 20.3 million tonnes (mt) while the annual domestic sugar demand is pegged at 24 mt. The government expects a comfortable supply of sugar in the country after adding last year's closing stock of 7.7 mt and an additional import permit of 0.5 mt. Nevertheless, the report released by ICRA says that the sugar prices will stay firm as the closing stock will drop to 4.5 mt – 5 mt this year, which is only sufficient to meet demand for two months into the ...

By Abin Daya It is very rare that you will find a month in which all the 8 core sector industries have had positive growth. No, it did not happen in Feb 2017; but it happened a year back – in Feb 2016! Before that it happened in 2010 – that too, three months in a row! In the case of Feb 2016, what made the month even more special was that 4 out of 8 core sector industries grew in double digits! Understandably, when something like that happens, you expect a significantly high rate of growth for the sector. Core sector grew at 9.4% in Feb 2016. Compare that with the core sector performance a year later, in Feb 2017. Such a ...

Source: PTI With sugar prices rising to Rs.40 per kg level in retail markets, the Maharashtra government has imposed stockholding limits on sugar traders in order to check hoarding and control prices of the sweetener. Maharashtra, the country's largest sugar producing state, has fixed the maximum limit for sugar at 5,000 quintals that a wholesaler can keep in stock for a period of maximum 30 days after receiving such stock. According to a government resolution issued, the limit for retailers has been set at 500 quintals for a period of maximum 30 days after they received such stock. As retail sugar prices crossed Rs.40 per kg, the Centre had allowed the states last month to fix the stock holding limit on sugar. The Cabinet had ...