Business Daily from THE HINDU group of publications
Wednesday, Nov 07, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Nov 07, 2007 ePaper | Mobile/PDA Version |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Government - Agricultural Policy Industry & Economy - Exports & Imports Ban on groundnut kernels, sesamum seeds export likely Our Bureau New Delhi, Nov. 6 A proposal for banning export of groundnut kernels and sesamum seeds is being taken by the high-level Committee of Secretaries, which is scheduled to meet here on Wednesday. According to sources, the Centre is concerned over the dip in acreage under rapeseed-mustard during the current rabi planting season and does not want to risk any domestic oilseeds shortage, more so in the light of spiralling international prices. “There is a move to ban export of oilseeds, particularly groundnuts and sesamum seeds, which are high value items,” the sources said. During 2006-07, the country exported Rs 798.46 crore worth of groundnuts, including Rs 602.80 crore of shelled nuts and Rs 195.66 crore of groundnuts-in-shell. Within shelled groundnuts, the bulk share of Rs 483.19 crore was constituted by hand picked kernels. Sesamum seed exports, on the other hand, were valued at Rs 939.58 crore during 2006-07. Customs duty cutThe sources added that while there is a proposal to also reduce customs duties on edible oils, the Finance Ministry has, however, not been receptive to the idea. “Whenever the country has reduced duties in the past, it has inevitably been followed by a corresponding rise in international prices, thereby neutralising the impact of lower tariffs. The ultimate beneficiary has been the Malaysian palm oil industry or Brazilian soyaoil supplier and not the Indian consumer,” More Stories on : Oilseeds & Edible Oil | Agricultural Policy | Exports & Imports | Seeds
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