Modi said the government is leaving no stone unturned to support farmers who are working tirelessly for the country’s food security. | File Photo: PTI
Prime Minister Narendra Modi on Saturday hailed recent changes in agricultural export policies, saying relaxing export norms on basmati rice and onions and raising import duties on some edible oils will boost farmers’ incomes and create rural jobs.
The government on Friday removed the minimum export price (MEP) of $950 per tonne for basmati rice and scrapped the MEP of $550 per tonne for onions, according to government statements.
The government on Saturday raised the import tariff on crude palm oil to 20 percent and refined sunflower oil to 32.5 percent, aiming to support domestic oilseed producers and processors.
In a post on X, Modi said the government is leaving no stone unturned to support farmers who are working tirelessly for the country’s food security.
“Whether it is reducing export duty on onions or increasing import duty on edible oils, many of these decisions will greatly benefit our food producers. While their income will increase, employment opportunities in rural areas will also increase,” the Prime Minister said.
Modi’s comments came in response to a post by Agriculture Minister Shivraj Singh Chouhan, who thanked the prime minister for taking important decisions regarding onion, basmati rice and edible oils in the interest of farmers.
Asserting that the Modi government is “sensitive” to the welfare of farmers and is committed to their “development” and “progress”, Chouhan said reducing the export duty on onions from 40 per cent to 20 per cent would help onion growers get better prices and boost exports.
The removal of tariffs on basmati rice exports is aimed at ensuring fair prices for producers and increasing demand for this premium rice variety, Chouhan added.
Regarding refined oils, the Minister said that the increase in basic duty on refined oil to 32.5 percent “will increase the demand for mustard, sunflower and groundnut crops for refinery oil.”
Chouhan expressed optimism that farmers will get better prices for these crops and the rise of refineries in small and rural areas will create more employment opportunities.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 14, 2024 | 21:50 IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.