No plan to ban rice export
The market is abuzz with speculation that the government may cut the customs duty on imported edible oils such as palm oil and soya oil as international prices are rising.
By PTI |
NEW DELHI: Putting rumours of a ban on rice export to rest, the Centre on Monday ruled out any such step. Denying any move to export rice, food secretary T Nanda Kumar said there is no cause of concern as overall food situation is comfortable.
Mr Kumar said the government would consider any duty cut on edible oil at an appropriate time. "There is no such proposal right now. We will do it at the appropriate time. It is not good to disclose it before," he said.
The market is abuzz with speculation that the government may cut the customs duty on imported edible oils such as palm oil and soya oil as international prices are rising. The import duty on crude palm and soya oil is 45%. The prices of CPO has increased by 6.18% in the last one month while the increase in soya oil is 8.59%. The international prices of crude soy oil is $859 per tonne while that of CPO is $790 a tonne. —
Mr Kumar said the government would consider any duty cut on edible oil at an appropriate time. "There is no such proposal right now. We will do it at the appropriate time. It is not good to disclose it before," he said.
The market is abuzz with speculation that the government may cut the customs duty on imported edible oils such as palm oil and soya oil as international prices are rising. The import duty on crude palm and soya oil is 45%. The prices of CPO has increased by 6.18% in the last one month while the increase in soya oil is 8.59%. The international prices of crude soy oil is $859 per tonne while that of CPO is $790 a tonne. —
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
