The Indian government has imposed a 50% duty on molasses exports and extended concessional duty rates on the import of edible oils. The move aims to increase the availability of molasses for ethanol production and ensure affordable edible oil rates. It is in response to concerns over the fall in sugarcane and sugar production, particularly in Maharashtra and Karnataka. Finance ministry notified the steep export duty on molasses amid concerns over the fall in sugarcane and sugar production due to erratic monsoon this year, particularly in Maharashtra and Karnataka.
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