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- Government imposed a 50% export duty on molasses.
- The government has imposed a 50% duty on exports of molasses, which is extracted as a by-product in alcohol production.
- A 50% export duty will be imposed on molasses produced during the extraction or refining of sugar.
- Till november 2023 india had exported molasses worth $101.33 million in financial year 2023-24 (fy24).
- Every year, india exports 200,000-300,000 tonnes of molasses.
- In the 2022-23 (october to september) sugar season, 0.45 million tonnes of molasses were exported from maharashtra.
- The government has decided to extend the existing concessional duty rates on imports of crude and refined edible oils
- The basic import duty on refined soyabean oil and sunflower oil was cut to 12.5% from 17.5%, in june last year.
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