Business Oil Meal Export CCS Uncertainty

A CASH compensatory support of 10 per cent of the fob value of oil meal exports formed an integral part of the package of incentives proposed by Union Finance Minister V P Singh in his budget speech for greater production of edible oils with special emphasis on maximising extraction of oils from the existing oil bearing resources. The export trade and the solvent extraction in-dustry had therefore been confidently look-ing forward to the proposed CCS coming in-to effect from the commencement of the new fiscal year (1986-87) from April I. The ex-port trade had, in fact, been expecting a fur-ther hike in the CCS on the basis of the cost data it had been asked to submit to the government to meet the exigencies of the emerging export scenario