Dairy shares surge after government announces 10% waiver for dairy exports

By: | Updated: July 17, 2018 7:06 PM

Shares of Prabhat Dairy and Parag Milk Foods surged after the government announced 10 percent duty waiver on dairy exports.

Shares of Prabhat Dairy and Parag Milk Foods climbed after the government announces 10 percent duty waiver on dairy exports.

Shares of Prabhat Dairy and Parag Milk Foods climbed after the government announced 10 percent duty waiver on dairy exports. The shares of Prabhat Dairy closed the day at Rs 168.60, up over 13% on BSE. Similarly, the other major dairy stock – Parag Milk Foods – was up nearly 5%  to close the day at Rs 304.60 on BSE. A ten percent waiver has been announced for dairy exports and all states will be implementing the decision, CNBC TV18 reported citing Finance Minister Piyush Goyal. The Maharashtra and Gujarat state governments have supported idea of dairy export incentive, he added. The ministers will meet again tomorrow to discuss the issues with respect to the dairy sector, Piyush Goyal said.

Meanwhile, the Shiv Sena today came out in support of the continuing protest by dairy farmers in Maharashtra. The political party asked the government why it  is not able to increase procurement of prices of milk when it can allocate crore of rupees on big-ticket projects like bullet train, PTI reported.

A protest has been launched by various organisation of farmers in Maharashtra to demand an increase of Rs 5 per litre in milk procurement prices. The milk tankers are being blocked in several districts of Maharashtra by protestors.

“This agitation cannot be ignored just because it was launched by (farmer leader) Raju Shetti. Farmers neither belong to any particular religion or caste, nor any political party. Over 3,000 farmers have ended their lives in the last four years and majority of them had voted for (Prime Minister Narendra) Modi,” PTI reported citing Shiv Sena.

According to reports, protestors are also blocking milk tankers in several districts of the state.

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