Posts Tagged ‘Food and Agriculture Minister’

Rajasthan Exempts VAT on Sugar

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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Rajasthan exempts VAT on sugar

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Rajasthan exempts VAT on Sugar:

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Now sugar would be cheaper by Rs 2 in Rajasthan.

Rajasthan government has decided to exempt VAT on imported sugar in the state till June 30.

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This will help in reining the spiralling sugar prices in a week’s time.

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“The state imposes 4% VAT on sugar. With this exemption, the prices will go down by Rs 160 per quintal,’ says a government official.

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According to Indian Sugar Mills Association, the world sugar economy is facing significant gap between world consumption and production for the second consecutive year.

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The first revision of the world sugar balance for October 2009 to September 2010 puts world production at 159.887 million tonnes, raw value, up by 6.911 million tonnes or 4.5% from the last season.

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The global use of sugar is expected to reach 167.134 mn tonnes.

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Therefore, the world statistical deficit is expected to reach 7.247 million tonnes as against 8.404 million tonnes projected in September 2009.

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Sugar Trade Association of Rajasthan secretary Ballabh Kabra said that this decision can make way for sugar mills to buy imported sugar. “This is the first step to cool down the prices.

We are waiting for government’s nod for importing sugar on our own.

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Sugar prices in Rajasthan are hovering around Rs 41- 43 a kg.

Apart from 4% VAT, sugar attracts mandi tax of 1.6% and an entry tax of 0.25% in Rajasthan,” he said.

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In Other major Commodities Update, we have news about the easing of food prices in coming days as signaled by the Food and Agriculture Minister Sharad Pawar.

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Food prices to ease next fiscal: Pawar

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Food prices are expected to decline in the next fiscal on the back of higher farm output and the only worry then for the government would be on storage, Food and Agriculture Minister Sharad Pawar has said.

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He, however, said that the country would remain import dependent when it came to pulses and edible oils for the next 10 years.

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On the possibility of prices coming down in the next financial year beginning April one, Pawar told in an interview to a news channel: “100 per cent”.

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In 2011-12 the problem which the government of India will have to worry about (is) what to do and where to store”.

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Food inflation touched 17.40 per cent for the week ended January 16 on account of high prices of vegetables and pulses.

On controlling prices of pulses, the minister said.

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Futures Trading in Rice, Sugar and Pulses Should be Banned

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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'Futures trading in rice, sugar and pulses should be banned'

‘Futures trading in rice, sugar and pulses should be banned’:

A parliamentary panel today suggested that futures trading should be banned in case of wheat, rice, sugar and some pulses till the country becomes self sufficient in these food items.


The Estimates Committee asked the government to bring a new legislation to control the retail prices of essential commodities like rice,wheat, pulses, edible oils, sugar, milk and vegetables.


On futures trading, the report said: “Since food security of the country is at the stake, the Committee recommends that futures trading in wheat, rice, tur dal, urad dal and sugar should be banned till the country achieves self-sufficiency in the production of these items on a continuous basis”.


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In Other major Commodities Updates we can see exports of Spice declining and on the other hand price of pulses rising up 80% in a year time.

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Spice exports decline 1.3% in April-October:

Exports of spices fell 1.3 per cent in volume and 1.6 per cent in value during the April-October period of the current financial year.


According to the latest estimates of Spices Board, total exports in the period were 280,885 tonnes valued at Rs 3,031.59 crore against 284,560 tonnes valued at 3,080.25 crore in the same period last year.


Pepper exports suffered a serious setback as the figures dropped to 11,500 tonnes valued at Rs 179.16 crore as against 14,750 tonnes valued at Rs 246. 70 crore in the same period last year.


Export of chilli also declined to 100,500 tonnes valued at Rs 706.50 crore as against 121,500 tonnes valued at Rs 660.17 crore.


Coriander exports had a better performance at 25,250 tonnes valued at Rs 128.12 crore against 17,100 tonnes valued at Rs 116.80 crore.

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Pulse prices rise up to 80 per cent in one year:

The government today said prices of pulses have surged by up to 80 per cent in the national capital over the last one year.


While prices of tur have gone up by 80 per cent in the last one year to Rs 90 a kg, that of moong dal surged 74 per cent to Rs 82, according to the data presented by Food and Agriculture Minister Sharad Pawar in a written reply to the Lok Sabha.


Even import of about 16 lakh tonnes of pulses between April and October has not eased pressure on the prices, the data showed.

Not just pulses, prices of sugar have almost doubled to Rs 38 a kg.

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