Area
India
Commodity Group
Oilseeds, oils and meals
Commodity
Palm oil
Date
01/03/2018
Policy Category
Trade
Policy Instrument
Import policy
Description
Increased import duties for crude and refined palm oil, in a bid to stimulate local oilseed production and help curb edible oil imports.
Notes
The import duties for crude and refined palm oil which were raised twice last year have been increased further, with effect from 1 March 2018. The tariffs for crude and refined palm oil were raised to, respectively, 44 percent and 54 percent (from previously 30 percent and 40 percent) i.e. the highest level in more than a decade. The third increase in tariffs in less than six month is meant to push up domestic prices of edible oils and back local oilseeds prices, in a bid to stimulate local oilseed production and help curb edible oil imports. India is the worlds top importer of palm oil.
