The government has imposed 50 percent duty on exports of molasses, a by-product of sugarcane used as raw material for alcohol production, with effect from January 18.

A finance ministry notification said molasses resulting from the extraction or refining of sugar will attract 50 percent export duty.

In another notification, the finance ministry extended the existing concessional duty rates on imports of crude and refined edible oils — palm, soybean and sunflower — by one year till March 31, 2025.

The basic import duty on refined soyabean oil and sunflower oil was cut to 12.5 percent from 17.5 per cent , in June last year.

Source : https://www.moneycontrol.com/