The Indian government has implemented a 50% duty on the export of molasses, a by-product of sugarcane used in ethanol manufacturing. Additionally, it has extended the concessional duty rates on imports of crude and refined edible oils. The aim is to increase the availability of molasses in the domestic market for ethanol production and ensure affordable edible oils are available.
Traders in Nashik have decided to indefinitely close onion auctions at all APMCs in protest against the 40% export duty imposed by the Centre. This decision will adversely affect onion growers and its export. The closure will impact Lasalgaon, the largest wholesale onion market in India. Traders urge the government to reconsider the duty as it doesn’t consider the rise in onion production costs. The closure will also impact local markets and farmers.
