Business Standard

Ministry for rise in oilmeal cake export duty

Related News

The has recommended a rise in cakes and extracts. In addition, there is the likelihood of an export duty on maize.

Officials explained that various states experiencing scanty rainfall might also get fodder and seed subsidy for contingent crops to be sown, especially if it is fodder crop of sorghum or jowar.

They added these measures were aimed at ensuing fodder supply to cattle and tackling protein inflation, a major part of which is contributed by fodder prices. Currently, export of oilmeal cakes and maize is duty-free. The decision to raise the export duty on maize has arisen since both cost of wheat and maize have gone up unlike earlier when maize was used as a major poultry feed since it was cheaper compared to wheat.

In a meeting of the Empowered Group of Ministers, it was decided to make oilmeal imports duty-free. Officials added that earlier it was only for soymeal, but a decision might be taken for a rise in export duty and duty-free imports across oilseeds. “This will solve two problems. First, oilmeal cakes are used for extraction of oil, while the deoiled cake is used as fodder for cattle,” explained an official source.

The focus of the government till the end of August is to take measures to salvage existing crops and grow more fodder crops. The government has already released funds for the accelerated fodder development programme as part of the even while the 12th Plan is yet to approve the allocation of the ministry of agriculture.

Read more on:   
|
|
|

Ministry for rise in oilmeal cake export duty

The Union ministry of agriculture has recommended a rise in export duty on oilmeal cakes and extracts. In addition, there is the likelihood of an export duty on maize.

The has recommended a rise in cakes and extracts. In addition, there is the likelihood of an export duty on maize.

Officials explained that various states experiencing scanty rainfall might also get fodder and seed subsidy for contingent crops to be sown, especially if it is fodder crop of sorghum or jowar.

They added these measures were aimed at ensuing fodder supply to cattle and tackling protein inflation, a major part of which is contributed by fodder prices. Currently, export of oilmeal cakes and maize is duty-free. The decision to raise the export duty on maize has arisen since both cost of wheat and maize have gone up unlike earlier when maize was used as a major poultry feed since it was cheaper compared to wheat.

In a meeting of the Empowered Group of Ministers, it was decided to make oilmeal imports duty-free. Officials added that earlier it was only for soymeal, but a decision might be taken for a rise in export duty and duty-free imports across oilseeds. “This will solve two problems. First, oilmeal cakes are used for extraction of oil, while the deoiled cake is used as fodder for cattle,” explained an official source.

The focus of the government till the end of August is to take measures to salvage existing crops and grow more fodder crops. The government has already released funds for the accelerated fodder development programme as part of the even while the 12th Plan is yet to approve the allocation of the ministry of agriculture.

image

Read More

Agri-commodities prices go down as rainfall improves

With the rainfall picking up in the last few weeks, prices for agri-commodities like sugar, turmeric, potato, pepper and cotton have gone down.

Recommended for you

Advertisements

Quick Links

Market News

Nifty holds 8450; SBI ends 2.4% lower post results

Sensex ends 148 points higher at 27,957. HDFC, ONGC, TCS gain

Sensex ends above 27,900 amid volatile session

Provisionally, the Sensex gained 134.71 points to end at 27,944.06 and the Nifty rose 27.80 points to close at 8,448.80

Sangam (India) zooms over 50% in four days on stake hike by promoter

The stock is currently trading at its record high of Rs 125 and has rallied 54% from Rs 81 on May 19.

Sagar Cements surges after turnaround in Q4

The stock surged 16% to Rs 408 after reported net profit of Rs 21.70 crore in March quarter against loss of Rs 11.36 crore in the year ago ...

SBI pares early gains post Q4 results

The stock surged 5% to Rs 305 after reported 23% year on year jump in standalone net profit at Rs 3,742 crore in March quarter.

 

Back to Top