Login ID:
Password:
Partner Login
Contact Us : 7066511911

EXCLUSIVE: No Import Duty Reduction For Lentils

29 May 2020 7:03 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (commodities control) - Sidelining the plea of selected importers, Centre has decided againt any reduction in import duty levied on lentils.

Sources confirm that the duty is unlikely in to be changed until August this year. It is to be noted that after RBI pointed out at inflationary situation in pulses, rumour is rife that a reduction in masur prices could be announced. Some importers had requested reduction in duty of tur and masur imports as well. Although our sources reveal that government has no intention of doing so. For Government, keeping farmers' interest on the top during Corona-led pandemic is a priority. Thus a decision on import duty reduction incase of lentils is most unlikely. At present, India levies 30% duty of lentil imports, along with 4% countervailing duty (CVD) taking the total to 34%. New masur arrival has commenced and so is the Government procurement drive. Government agencies are directly procuring farmers' produce at MSP. Masur price in MP mandis are trading in the range of Rs 4700-5100/Quintal. Masur is quoted at Rs 5000/quintal in UP. While the MSP for the current season is Rs 4800/quintal. According to All India Dal Mills Association, any reduction is masur or any pulses import duty will be a grave injustice to our farmers. Suresh Agarwal, President of the Millers association adds that pulses demand has already suffered due to closure of restaurants, hotels and markets amid lockdown. Even dal mills are operating at mere 30-40% of their capacities. Imported masur prices are holding steady at Rs 5500-5800/quintal in Mumbai and Kolkata. Traders are witnessing good supplies of dometic varieties, thus there's barely any demand for imported supply.

       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Burma Urad SQ Variety Drops At Chennai; FAQ Variety In ...
Imported Masoor Weak In Major Mkts
Branded Processed Pulses At Mumbai APMC Market- 11th Ju...
Urad FAQ Variety Declines In Delhi
Burma Tur Remains Weak In Mumbai
more
Top 5 News
Booster Dose For Indian Textile Sector
Coriander Prices Weaken amid Dull Demand, Higher Produc...
Cotton Prices Steady-to-Weak in South Indian Markets
Burma Urad SQ Variety Drops At Chennai; FAQ Variety In ...
Cotton Prices Firm in Gujarat amid Improved Demand
Top 5 Special Reports
USD/INR (Jul 20) Counter-trend Bounce / Key Resistan...
USD/INR (Jul 20) Counter-trend Bounce / Key Resistan...
USD/INR (Jul 20) Weak Price Trend / More Downside Pr...
USD/INR (Jul 20) Bearish Breakout from a Descending ...
CBoT Soybean Reaches 4-Months High on Dry, Hot U.S. Wea...
Copyright © CC Commodity Info Services LLP. All rights reserved.