The Tamil Nadu Minister for Commercial Taxes, Mr S.N.M. Ubayadullah, assured the members of the tea trade that the Government will examine the sector's demand on extension of one per cent VAT levied at first point of sale to all teas sold in the auctions. No auction centre in the country except Tamil Nadu levied tax on sale of teas meant for exports and that such levy made exports uncompetitive. Further, the one per cent VAT levied at the first point of sale was constrained only for teas sold in auction and direct first sale by the bought leaf factories and Indcoserve, leaving the estate tea factories and TANTEA outside the ambit of such cover.
Yet the offer volumes during the first seven months of 2008 at Coimbatore auction centre went up by 23 per cent to 17.08 million kg against 13.87 million kg during the corresponding months of the previous year.
Friday, October 3, 2008
Wednesday, October 1, 2008
Soyabean Processors Association Of India
Soyabean output is headed for a record 108.17 lakh tonnes (lt) this year against 94.75 lt last year, according to the Soyabean Processors Association of India (SOPA) projections. SOPA's projections are based on 8 per cent increase in the area under soyabean. The total area under soyabean in all States has been pegged at 96.24 lakh hectare (lh) till September 24 compared with 88.49 lh last year.
The acreage in Madhya Pradesh, which accounts for over half of the total soyabean crop in the country, was at 51.43 lh with output being estimated at 57.75 lt against 48.79 lh amd 49.8 lt production, with increase in area witnessed in Ujjain, Indore, Bhopal, Guna, Shivpuri and Ashoknagar districts. The acreage in Maharashtra, No. 2 soyabean producing State, has reached 30.68 lh and output is seen at 36.47 lt, against 32.37 lt grown on 26.51lh last year.
The acreage in Madhya Pradesh, which accounts for over half of the total soyabean crop in the country, was at 51.43 lh with output being estimated at 57.75 lt against 48.79 lh amd 49.8 lt production, with increase in area witnessed in Ujjain, Indore, Bhopal, Guna, Shivpuri and Ashoknagar districts. The acreage in Maharashtra, No. 2 soyabean producing State, has reached 30.68 lh and output is seen at 36.47 lt, against 32.37 lt grown on 26.51lh last year.
Sharp Falls In Global Futures Mainly
Rubber prices plunged on Sept 30. Sharp falls in global futures mainly TOCOM kept the domestic market under pressure during the day. RSS 4 declined to Rs 112 from Rs 121 a kg as there were no purchasing orders from any leading consuming industries even at lower levels. RSS 3 spot weakened to Rs 127.05 (129.07) a kg at Bangkok. Spot rates were (Rs/kg): RSS-4: 112 (121); RSS-5: 110 (118); ungraded: 105 (114); ISNR 20: 109 (116) and latex 60 per cent: 76 (77).
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