Unstable worth and polls probably behind rejig of duties, export cap | Economic system & Coverage Information

Minimal Export Worth on onions scrapped from $550 per tonne. | Picture: Wikimedia Commons

1 min learn Final Up to date : Sep 15 2024 | 11:56 PM IST

The Centre final week eased export curbs on key commodities whereas elevating the import duties on some in an effort to elevate farm gate costs and likewise hold inflation in verify. Observers say measures that had been introduced simply weeks earlier than the Meeting polls in Haryana, Jharkhand, Jammu & Kashmir, and Maharashtra had been meant to woo the agricultural voters, which is reeling beneath the influence of falling costs. Enterprise Customary takes a take a look at how the retail and wholesale costs of a few of the commodities on which motion had been taken carried out over the past seven to eight months.

THE DECISIONS

> $950 per tonne minimal export worth (MEP) on basmati rice eliminated

> $550 per tonne MEP on onions scrapped

> Export obligation on onions lowered to twenty% from 40%

> Zero obligation import of yellow peas (matar) prolonged until December 31 from September 31

> Wheat’s inventory restrict tightened

> Efficient import obligation on crude palm, soya and sunflower oil raised to 32.5% from 12.5%

> Efficient import obligation on refined oils raised to 35.75% from 13.75%