Indian government increase import duty on palmoelin

Government of India has hiked the import duty on Crude Palm Oil (CPO) to 44 per cent from 30 per cent and on Refined Bleached Deodorized (RBD) palmolein to 54 per cent from 40 per cent with effect from March 1, 2018. The move is done to safe guard the interests of the domestic edible oil crushing industry and oilseed farmers in India. However, the industry has been demanding the increase of import duty for mustard oils, canola oil etc., India’s overall import of vegetable oils during November 2017 to January 2018 is reported at 3,628,734 tonnes, as compared to 3,414,008 tonnes, up by 6 per cent on year-on-year basis