Area
India
Commodity Group
Oilseeds, oils and meals
Commodity
Palm oil
Date
01/02/2020
Policy Category
Trade
Policy Instrument
Import policy
Description
Raised the standard import duty for crude palm oil from 37.5 percent to 44 percent, in a bid to encourage domestic oilseed production and thus reduce the countrys dependence on imported oils.
Notes
INDIA import policy: Separately, in an attempt to encourage domestic oilseed production and reduce the countrys dependence on imported oils, Indias federal budget document for 2020 raised the standard import duty for crude palm oil from 37.5 percent to 44 percent, while the duty for unrefined soy and sunflowerseed oil remained at 35 percent and that for rapeseed oil at 45 percent. However, for palm oil exporters from the ASEAN bloc which includes Indonesia and Malaysia the preferential rate of 37.5 percent for palm oil would remain in place.
