Devendra Fadnavis urges Centre to increase import duty of soyabean to support farmers

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Mumbai | November 06, 2016 9:43 PM

Maharashtra Chief Minister Devendra Fadnavis today wrote a letter to Union Finance Minister Arun Jaitley, seeking a hike in the import duty of soyabean to support farmers in view of the large scale production of the crop this year.

In his letter, Fadnavis said that the exceptional production of soyabean this season may lead to a dip in its prices and hence increase in its import duty is required. (PTI)In his letter, Fadnavis said that the exceptional production of soyabean this season may lead to a dip in its prices and hence increase in its import duty is required. (PTI)

Maharashtra Chief Minister Devendra Fadnavis today wrote a letter to Union Finance Minister Arun Jaitley, seeking a hike in the import duty of soyabean to support farmers in view of the large scale production of the crop this year.

In his letter, Fadnavis said that the exceptional production of soyabean this season may lead to a dip in its prices and hence increase in its import duty is required.

“There has been a large-scale production of soyabean in the state, much more than the previous year, thanks to good monsoon and various initiatives taken by the government. Therefore, there are chances that the prices of soyabean may dip considerably,” he said.

“To give respite to farmers, the state government has started purchasing the crop at a specific price. Also to ensure that farmers do not face distress, the government has taken urgent initiatives,” he further said.

“At the same time, if the Centre increases the import duty on soyabean, it will give further relief to farmers,” Fadnavis said.

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