Commodity Analysis

Sugar traders seek duty-free imports

Compiled by BL Research Bureau | Updated on January 15, 2018 Published on March 26, 2017

PO27_sunflower_seed

PO27_copra



The All India Sugar Trade Association has pitched for duty-free imports of 1-1.5 million tonnes of the commodity to avoid a possible shortage in the current sugar season. AISTA representatives discussed the issue with Food Minister Ram Vilas Paswan on Thursday. The Association estimates sugar production at 20 million tonnes in the ongoing season and pegs consumption at 24.8 million tonnes.

Centre cuts import duty on sunflower seeds

The Finance Ministry, through a notification, has announced a reduction on import duty to 10 per cent, from 30 per cent, in response to a long-pending demand of the oil producers. The production of sunflower seeds has been dropping in recent years. It has come down from 14 lakh tonnes in 2007-08 to 3.31 lakh tonnes in the year 2015-16.

In the current year, though production may be higher relative to the previous year, it may not suffice to meet the full demand. The favourable import destinations are Ukraine, Russia and Tanzania. Though it is cheaper to import sunflower oil than the seeds, the reduced duty assures producers of the availability of the seeds.

Copra MSP increased to ₹6,500 per quintal

The Centre has announced an increase in the minimum support price (MSP) of copra by ₹550 per quintal for the 2017 season to boost copra cultivation. The MSP was ₹5,950 per quintal last year. The MSP for ball copra has been raised by ₹545 per quintal to ₹6,785 for 2017 against ₹6,240 in 2016.

This decision was taken after recommendations from the Commission for Agricultural Costs and Prices.

Have a question on commodities?

Write to us at commodityquery@gmail.com

Published on March 26, 2017

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Sincerely,

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.