Area
India
Commodity Group
Oilseeds, oils and meals
Commodity
Palm oil
Date
01/03/2020
Policy Category
Trade
Policy Instrument
Import policy
Description
From March 2020 to April 2020: Decided not to extend the temporary safeguard duty imposed in September 2019 on refined palm oil imports from Malaysia. Furthermore, the Government eased the strict licensing requirements for refined palm oil imports that it introduced in January 2020.
Notes
INDIA import policy: In March, the Indian Government decided not to extend the temporary safeguard duty imposed in September 2019 on refined palm oil imports from Malaysia (see MPPU Sep.19). Malaysias new Government welcomed the decision and confirmed its interest in strengthening the commercial ties between the two countries. Moreover, in April, the Indian Government eased the strict licensing requirements for refined palm oil imports that it had introduced at the beginning of the current year (see MPPU March 20). According to industry sources, the decision was prompted by concerns that the recently imposed COVID-19 lockdowns could curtail domestic edible oil supplies and drive up consumer prices.
