Government doubles import tax on edible oils

1

New Delhi: To support local farmers, India doubled the import tax on crude palm oil to 30 percent, while the duty on refined palm oil has been raised to 40 percent from 25 percent earlier, the government said in an order late on Friday.

The world’s biggest importer of edible oils also raised the import tax on crude soy oil to 30 percent from 17.5 percent earlier. It raised the import tax on refined soy oil to 35 percent from 20 percent earlier, it said.

India imports palm oil mainly from Indonesia and Malaysia and soy oil from Argentina and Brazil.

Leave A Reply

Your email address will not be published.