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Sesame seeds: tender prices fail to meet expectations

August 17, 2020 1:09 PM, Der AUDITOR
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NEW DELHI/ABUJA. Suppliers in India successfully bid in last week’s tender from South Korea. Prices did, however, not quite meet expectations as the Merchandise Export From India Scheme (MEIS) is under scrutiny. Meanwhile, offers for the new crop are issued in Africa.

India wins bids

Shock came in July as India’s revenue department decided to cap the MEIS scheme at RUP 90 crore (USD 120m) for April-December. Implemented in 2015, the scheme offers benefits to exporters in the form of 2%, 3% or 5% free foreign exchange. While the benefits clearly profit the exporters, the scheme has recently come under scrutiny since a tangible growth in exports has so far failed to materialise. In addition, the scheme is due to end at the end of the year.

Sesame seed exporters in India gave a sigh of relief as the government decided

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