Government of India and the Government of the Federal Republic of Germany Sign Government to Government Umbrella Agreement
Post positive government policiesRuchi Soya announced that it is eyeing improved capacity utilisation benefits after the positive announcements in the mid term review of the Export Policy. The increase in export incentives for Agriculture and related products along with the 2% additional incentives under MEIS scheme for soyameal will help Ruchi Soya's oilseed extraction business with an increase in capacity utilisation as well as increased output of value added products.
The Company has increased its crushing operations by 30% to 40% compared to the first half of the current year at key plants at Manglia near Indore, Nagpur, Kota and Washim on back of its strengthening supplies to Patanjali, the increase in export incentive and increase in import duties.
With 3.72 million MT capacities across 10 locations, Ruchi Soya has the largest oil seed extraction (crushing) capacity in India. In the past two years, owing to bad crop, only around 15% of the crushing capacity was being utilised. With increase in crushing operations, the capacity utilisation is expected to more than double in the current year to 30-35%.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)