India cuts import taxes on wheat, potatoes and palm oil

26/09/2016,

The Government, on 23 September, cut import taxes on wheat, potatoes and palm oil. The wheat import tax was reduced from 25 percent, effective since October 2015 (FPMA Food Policies), to 10 percent until end-February 2017, when harvesting of the 2017 main Rabi crop will begin. The import duty on potatoes was also reduced to 10 percent from 30 percent before, while the import duties on crude palm oil and refined palm oil were cut by 5 percentage points each to 7.5 and 15 percent respectively. The measure aims to boost domestic availability and curb food inflation.

Country: India