Geojit's report on Agri Picks
Indonesia's ban on export of edible oils extends to crude palm oil, Airlangga Hartarto, the country's coordinating minister for economic affairs, said in a statement. The ban, which will take effect from Thursday, will be in place until prices of bulk cooking oils stabilise to at around 14,000 rupiah (around 74 rupees) per ltr in the country's traditional markets, said Hartarto. The Soybean Processors Association of India has urged the government to turn down the request of the poultry industry to allow import of genetically-modified soybean meal. The Union Cabinet approved nutrient-based subsidy rates for phosphatic and potassic fertilisers for kharif season (Apr-Sep). Prime Minister Narendra Modi turged states that did not reduce value added tax on petrol and diesel in November to do so now in public interest and in the spirit of cooperative federalism.
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