Efforts to increase export between bumper crops in rupees: Mandi tax likely to be abolished

Mumbai, Ta. October 21, 2019, Monday

The Mumbai oil market was officially closed today in the wake of the elections in Maharashtra. New trades at the closed market were unbeatable. In the world market today, Palmetel's futures in Malaysia showed an improvement of 5 and 6 points in the near delivery while the distant delivery was showing a decrease of 5 and 5 points. There, the prices of the palm product were raised by two and a half dollars today. Meanwhile, the Solvent Extractors Association of India has appealed to the importers to restrict the import of palmetta from Malaysia as per instructions received today.

Meanwhile, Chicago soybean futures in the US today were projected to remain four points plus an evening in projection. Meanwhile, the dollar was trading soft against the rupee in domestic currencies today. In the Mumbai market today, the price of 5kg was Rs.

On the Rajkot side, prices were between Rs 5 and Rs 5 per kg. Cotton washed up by Rs 5 to Rs 5 today, while in the Mumbai market the price of cottonseed oil remained at Rs 5. Meanwhile, according to the Cotton Association of India, export incentives have been sought to increase exports. Besides, there is a demand from the government to remove the mandi tax.

The country is expecting a new crop bumper this year. However, if the assistance is provided for export, the government has to lose about six billion rupees in revenue, but if the market price goes up higher, then the government will have to buy less at support prices, sources said at a meeting in Akola.

In India, the cotton crop is estimated to be around 1 to 2 lakh bales this year. New season has begun in the country from October. It is being discussed that the Cotton Corporation will buy around 1 to 2 lakh bales of Rs. The Cotton India Conference 2 was held recently at Akola. The question of raising the export of Rooney has been presented to the Center's Commerce Minister in Delhi. According to the Maharashtra Cotton Generators Association, demand has also been made to remove Mandi tax in the state. Farmers will be relieved if this is done, sources said.

This question has been addressed to the Chief Minister of Maharashtra. In Maharashtra, a one per cent Mandi tax has been kept for half a kilogram and if such tax is removed, farmers are likely to save Rs 3 per 3 kg. Maharashtra Assembly elections are over on Monday, and now the informants were hoping to announce a brief announcement about the removal of Mandi tax in the state.

At the closed market today, the price of 5kg was Rs.5 per liter of soybean and Rs 5 for refined, while the price of sunflower was Rs. 5 and refinda Rs.

The price of palmetta was Rs 6 per hawala reseller and Rs 6 with JNPT. Mustard prices were Rs. While the prices of crude palm oil CPO Kandla were Rs. Total exports of palmetta from Malaysia fell by 6 per cent to 9 tonnes in the first six days of this month, compared to Rs 5 tonnes in the previous month, SGS data said.

In Malaysia, production has dropped by about 5 to 8 percent in 5 days. Meanwhile, soybean arrivals in the home were reported this afternoon at around 5 lakh times nationwide. Of these, such arrivals in Madhya Pradesh were reported to be around four lakh times and there were prices of moisture content of Rs. 5 to 6 and high to Rs. There, soyatal prices remained at Rs 5 to Rs 3 in the afternoon and Rs 1 to Rs 5 in the refined and Rs 1 in the refined.

Meanwhile, groundnut arrivals this morning were reported at around 3,000 times on the Gondal side and Rajkot side at around 3,000 times.