Ab ayega asali festival maja for farmers..
- Crude edible oils to attract 27.5% tax vs 5.5% earlier
- Refined oils to attract 35.75% tax vs 13.75% earlier
India has raised the basic import tax on crude and refined edible oils by 20 percentage points, the government said on Friday, as the world's biggest edible oil importer tries to help protect farmers reeling from lower oilseed prices.
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when you say maximum, any names? Over 35-40 percent of the mustard oil market (including supplies to commercial establishments, businesses) is still in the hands of a dozen or so brands only.
Now we, the consumers, can expect the cooking oil prices to shoot up by a min of 20% because of this.
We will buckle and either compleyely revert to previous rates or the exporting countries and local importers would use a mix of WTO appeals and soft diplomacy to have these increases revised with 24-28 mobths.
The benefits never reach the plantation owners or the marginal farmers, even if tariff barriers like these are used.
65-70% of our agriculture still does not have adequate irrigation and is almost completely dependent on rainfall, monsoons. Those farmers never reap the benefits of even local crop proces going up the hoarders and middlemen rob the farmers by pushing them into having distress sales.. to make ends meet.. because most small or medium farmer still do not have access to (funds to use) the cold storage chains.
A welcome move to support our Annadatas who toil hard in the field from dawn to dusk!! 🙌 We must remember that, No Annadata, No Food! 😤 All hail to MSP & our eminent Annadatas! 🙏 It's just a trailer, enjoy the show!! 🫢
"After a long time, the government has been attempting to balance the interests of both consumers and farmers," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.
The move has increased the likelihood of farmers receiving the minimum support price set by the government for their soybean and rapeseed harvests, he said.
Besides that it's a good move to discourage import of Palm oil which is more than 50% of total edible oil imports. Palm oil is dangerous to health as it contais a lot of saturated fat. Triglycerides and "bad" LDL cholesterol are increased by saturated fat and lead to various kind of heart disease.
Additionally, Palm oil causes deforestation, which is bad for the ecosystem and the planet Earth. 🌍🌳
instead of planning on how to export we are just putting tax on imports and troubling consumers.
instead of planning on how to export we are just putting tax on imports and troubling consumers.
Palm oil ban hua toh pressure sunflower oil and other oil pe aayega fir price badhega. Jo chal raha he chalne do.
Wo bhi theek hi hai bhai, oil is not an essential as such, especially refined oils.
200-300/ liter is a healthy rate for any kind of oil.
It has many benefits, street food and restaurant prices would increase, people would prefer eating at home using lesser oil .