IDBI Capital notes that the budget has increased the customs duty on footwear to 10% and furniture by 5%, which will help the business of production in India, and ultimately benefit shares such as Trent, BataNSE by 0.32%; Hadim, Relax, Shoppers StopNSE - by 0.93%.
Similarly, the goal of doubling milk processing capacity by 2025 will help lower the price of this product. Major beneficiaries include Jubilant FoodworksNSE, HUL, and NestleNSE, a brokerage company said. Lower income tax rates for low-income individuals should also encourage the use of consumer goods.
With milk, the cow - the sacred animal of India - conveys all the healing properties of the herbs it has eaten, and therefore the drink is forbidden to breed with something other than honey and turmeric.
A number of agricultural products will become cheaper, as the government has removed customs duties from them. These include imports of milk in liquid or solid form up to 10,000 tons, melted, vegetable and corn oils up to 500,000 tons.
ICRA Rating Agency said the budget was marginally positive for the sector. “The emphasis is on strengthening the infrastructure of the refrigeration and storage network, which is a good omen for industry participants, especially the segment of processed food. The focus on strengthening warehouse infrastructure will be a long-term positive for the industry, ”the report said.
- The Moroccan government is expected to reintroduce a customs duty on soft wheat imports to stimulate sales of local crops affected by rainfall shortfalls, said Chakib Alge, president of the National Millers Federation, on Wednesday.
- In 2019, Russia abolished duties on Moldovan imported products of a gastronomic nature, through which from the first days of the new year, fruit and vegetable supplies from the Republic of Moldova, as well as Moldovan wines, canned goods and cognac are no longer subject to import tax.
- Currently, South American producers are being thrown out of the EU market at tariffs, but if there is no Brexit deal, the UK will open a duty-free quota of 230,000 tons for all countries licensed to export to the UK.
