Export sops off on milk, value-added products

Economy Bureau
Posted: Tuesday, Apr 22, 2008 at 2314 hrs IST
Updated: Tuesday, Apr 22, 2008 at 2314 hrs IST

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New Delhi, Apr 21 : In yet another attempt at reining in inflation, the government has taken off incentives under schemes for exports of skimmed milk and other dairy products to boost domestic supplies.Benefits provided under vishesh krishi and gram udyog yojana (VKGUY), duty entitlement pass book (DEPB) schemes and focus market scheme have been withdrawn for export of skimmed milk powder, casein (milk protein) and other milk products as well.

“Export of SMP, casein and any other milk product shall not be entitled for the benefit of the VKGUY and focus market scheme with immediate effect,” a notice by the directorate general of foreign trade said. It also specified that these products would not be entitled for DEPB.

The wholesale price index of milk has gone up by 1% for the week ended April 5. Experts said the product was not the main contributor to rising inflation. Inflation had come down to 7.14% for the week ended April 5 from a 40-month high of 7.41% for the week ended March 29.

Of the milk production of 100 million tonne, SMP accounts for around 6%. The objective of VKGUY is to boost export of agro products and promote rural employment, while focus market scheme encourages exports to identified market.

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