Business Standard

Molasses exports from AP uncompetitive due to export fee

The state government had imposed a Rs 2,500 fee on the export of molasses on Nov 10

Prashanth Chintala  |  Hyderabad 

Though the Andhra Pradesh Government has permitted export of 10,000 tonne of molasses, the imposition of export pass fee of Rs 2,500 a tonne has made the commodity uncompetitive in the international markets, according to the Associated Chambers of Commerce and Industry of India (Assocham).

Stressing the urgent withdrawal of the export pass fee, Assocham pointed out that other sugar producing states like Gujarat, Maharashtra and UP were not charging any such fee.

In a press release here on Monday, Assocham said that the current FOB export price of was $110 or about Rs 6,000 a tonne while the state government had been charging Rs 2,500 as export pass fee. The fee accounts for 42.5% of the FOB value of export.

The state government issued a notification on November 10, 2008 imposing the fee on export of molasses.

RECOMMENDED FOR YOU

Molasses exports from AP uncompetitive due to export fee

The state government had imposed a Rs 2,500 fee on the export of molasses on Nov 10

Though the Andhra Pradesh Government has permitted export of 10,000 tonne of molasses, the imposition of export pass fee of Rs 2,500 a tonne has made the commodity uncompetitive in the international markets, according to the Associated Chambers of Commerce and Industry of India (Assocham).

Though the Andhra Pradesh Government has permitted export of 10,000 tonne of molasses, the imposition of export pass fee of Rs 2,500 a tonne has made the commodity uncompetitive in the international markets, according to the Associated Chambers of Commerce and Industry of India (Assocham).

Stressing the urgent withdrawal of the export pass fee, Assocham pointed out that other sugar producing states like Gujarat, Maharashtra and UP were not charging any such fee.

In a press release here on Monday, Assocham said that the current FOB export price of was $110 or about Rs 6,000 a tonne while the state government had been charging Rs 2,500 as export pass fee. The fee accounts for 42.5% of the FOB value of export.

The state government issued a notification on November 10, 2008 imposing the fee on export of molasses.

image

LIVE MARKET

BSE 26392.38

161.19 (0.61 %)

NSE 8001.95

53.00 (0.67%)

Widgets Magazine

STOCK WATCH

Company Price() Chg(%)
Future Consumer 16.15 11.76
Kolte Patil Dev. 164.95 10.30
Vakrangee 118.45 9.88
PC Jeweller 384.50 9.34
Gateway Distr. 361.20 7.32
> More on BSE Gainers
Company Price() Chg(%)
Future Consumer 16.25 12.07
Kolte Patil Dev. 166.00 11.00
Vakrangee 118.35 9.89
L G Balakrishnan 491.15 8.78
Gateway Distr. 363.50 8.33
> More on NSE Gainers
Company Price() Chg(%)
Sunrise Asian 260.70 -9.98
Symphony 2083.30 -6.39
I O B 34.95 -5.41
Indbull.RealEst. 62.55 -5.01
H D I L 59.95 -4.99
> More on BSE Gainers
Company Price() Chg(%)
Rasoya Proteins 0.20 -20.00
Usha Martin 15.25 -5.86
I O B 35.35 -5.73
GHCL 115.70 -5.47
Gammon India 13.90 -5.12
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price