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G Kalyan Kumar
AUGUST 17: In an effort of make trade more transparent the Soyabean Processors' Association of India (Sopa) is planning to empanel the brokers and intermediaries involved in broking of soyameal for exports and standardising their contract formats.
Other measures being mooted are empanelment of clearing and forwarding agents, surveyors and analysts.
A model contract for soyabean trading is also being prepared, by Sopa. For the benefit of members, the association has formulated four standard contracts for indirect and direct exports of soyabean meal. The drafts are under circulation. Members have been alerted to take note of the draft contracts before entering new business for the ensuing season in order to avoid any ambiguity.
The aim of Sopa is to persuade all the foreign and local buyers and the brokers to standardise their contract formats, so that the disputes arising out of the contracts are minimised.
In order to boost the export of soyabean meal, the Union ministry of commerce has been urged to AUGUST 17: In an effort of make trade more transparent the Soyabean Processors' Association of India (Sopa) is planning to empanel the brokers and intermediaries involved in broking of soyameal for exports and standardising their contract formats.
Other measures being mooted are empanelment of clearing and forwarding agents, surveyors and analysts.
A model contract for soyabean trading is also being prepared, by Sopa. For the benefit of members, the association has formulated four standard contracts for indirect and direct exports of soyabean meal. The drafts are under circulation. Members have been alerted to take note of the draft contracts before entering new business for the ensuing season in order to avoid any ambiguity.
The aim of Sopa is to persuade all the foreign and local buyers and the brokers to standardise their contract formats, so that the disputes arising out of the contracts are minimised.
In order to boost the export of soyabean meal, the Union ministry of commerce has been urged togrant a special import licence to the extent of 10 per cent of the value of exports to the actual producer of the soyabean meal.
Further, the centre has also been advised not to reduce the duty on imported crude and edible oil so as to give an additional incentive to the Indian farmers.
The government recently reduced import duty on edible oils from 25 per cent to 15 per cent. This is seen as a retrograde step which could seriously erode the viability of the farmers producing oilseeds.
Sopa has further requested the centre to have a differential of at least 10 per cent import duty on imports of crude and refined oils so that the Indian oil refineries get sufficient work load.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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