The Cabinet Committee on Economic Affairs Friday approved increasing the minimum support prices of ball copra and milling copra for the 2025 season, the government said in a release. The minimum support price for "fair and average quality" of milling copra has been hiked by INR 422 rupees per 100 kg to INR 11,582 rupees, while that of ball copra has been increased by INR 100 rupees per 100 kg to INR 12,100 rupees. The total financial implication of the hike in the minimum support price for copra will be INR 8.55 bln.Register to read
Twelve states have saved INR 1.28 billion till date after the implementation of route optimisation in their public distribution system supply chain, the Ministry of Consumer Affairs, Food and Public Distribution said in a release highlighting the major activities of the Food and Public Distribution Department this year. "With the completion of one year into the optimisation exercise, route optimisation assessments have been completed in 30 states. Results show tremendous promise, with transportation costs estimated to be reduced by around INR 2.50 billion per year," the release said.Register to read
India's vegetable oil imports bill fell by $2.02 billion, or 11.4%, to $15.7 billion in 2023-24 (Nov-Oct), the second successive year of decline, due to lower imports and sharp fall in palm oil, soyoil and sunflower oil prices globally. The country imported vegetable oil worth $17.72 billion in 2022-23 and $21.12 billion in 2021-22, the data from the commerce ministry showed.Register to read
The government is likely to extend duty-free imports of yellow peas by two months to keep prices of chana steady across the country, a government source told Informist. A notification in this regard is likely to be out soon, the source added. Yellow pea is a substitute for both chana and tur. Register to read
Transport Minister Nitin Gadkari has assured the sugar industry of a favourable policy support from the government. The minister said he would make recommendations to the government to allow sugar exports and increase the minimum selling price of sugar.Register to read