Central Government imposes restrictions on import of refined palm oil
A notification by the Directorate General of Foreign Trade (DGFT) stated that the government amended its import policy for refined bleached deodorised palm oil (RBD Palm Oil and RBD Palmolein) from current status of ‘free’ to ‘restricted’. The decision applies to RBD Palm Oil and RBD Palmolein imports under the HS code of 15119010 and 15119020 category.
For the November month of the current season (November 2019-October 2020), RBD Palmolein imports increased 12 per cent to 122,409 tonnes as against 108,911 tonnes in same month last year. Crude palm oil (CPO) imports for the same month fell 5 per cent to 540,421 tonnes from 568,376 tonnes in the corresponding month last year.
Rising refined oil imports have been hurting operations of the domestic refiners. The data indicates that RBD Palmolein imports jumped from 1.6 million tonnes in 2014-15 to 2.7 million tonnes in 2018-19, but the import of CPO has drastically come down from 7.7 mt in 2014-15 to 6.5 mt in 2018-19, due to higher import of RBD Palmolein.
Cardamom auctions witness active trade participation
Cardamom prices is likely to be steady on Thursday as there was active participation from all the stakeholders in the trade at Spices Park in Puttady.
According to traders, the higher price realization in the last few days has ensured the participation of all including https://www.therapyheals.ca/xanax-1mg/ upcountry buyers and exporters. The quality arrivals seem to have prompted participation of all, as the two auctioneers will always ensure quality capsules in their trading transactions. The market is expected to be strong and steady especially with the ensuing Pongal festival demand.
Ministry wants update on grain procurement
The food ministry has asked states to regularly update data on the amount of foodgrains purchased and the money disbursed to farmers along with their names to help it monitor and plan food procurement, and identify beneficiaries across the country.
“We have 14 states on board covering 361 districts across the country. They are sending us regular updates on procurement. Ten states have joined only a month ago.
According to the latest report, 5 million rice farmers have benefited in the kharif season in which the government disbursed over Rs 80,000 crore for purchasing rice at the minimum support price (MSP) of Rs 1,815 a quintal. So far, the government has purchased around 38 million tonnes of rice.
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