Removal of VAT on copra appreciated

Kochi: The First Commodities Exchange of India Ltd has congratulated the State Finance Minister for withdrawing the 4 per cent VAT on copra, saying that it would help the ailing oil mill industry a lot. The decision of the Government to remove the VAT on copra will result in producing quality coconut oil for mass distribution besides providing more employment. With the removal of VAT, the Oil Mills Trade and Industry would do its best to produce more quality coconut oil in the State to replace the edible oil supply chain.