Central government allows import of 3 lakh MT of raw sugar at 25% duty
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 ...
UP govt to buy one lakh metric tonne of potatoes at Rs 487 per quintal
PTI In an effort to end the miseries of potato growers in Uttar Pradesh, the state government today decided to purchase one lakh metric tonnes of potato from farmers at Rs 487 per quintal. "Government aims at giving adequate price to potato growers, if we cannot give them profit, we want to give them price of their produce," Cabinet minister Shrikant Sharma told reporters after a meeting of the state cabinet. There have been reports that the potato farmers in the state were unable to get a proper price for their produce because of the presence of intermediaries. Services of four agencies including a central and state agency will be availed of for purchase of potato, he said. ...
Indias sugar output fell 10% in the last 4 months
The Dollar Business Bureau India’s sugar output declined by 10% to 128.55 lakh tonnes in the first four months of the 2016-17 marketing year that began from October 2016, due to lower sugarcane production in Maharashtra on account of drought. The marketing year of sugar is generally between October to September. For the 2016-17 season, Indian Sugar Mills Association (ISMA) has revised its sugar production estimates to 21.3 million tonnes down, from its previous estimates of 23.4 million tonnes. The Association has also lowered the estimates for sugar consumption to 24.2 million tonnes for the current year after taking into account the news of slow sugar sales. “As on January 31, sugar mills in India have recorded a production of 128.55 lakh tonnes, against ...
Govt asks sugar mills to export 4 mn tonnes by Sept 2016
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 ...
