AreaIndia

Commodity GroupOilseeds, oils and meals

CommodityVegetable oils

Date01/08/2019

Policy CategoryTrade

Policy InstrumentImport policy

DescriptionConsidered levying a cess on all vegetable oil imports, with a view to setting up an Oilseed Development Fund, tasked with boosting the country’s stagnating oilcrop production.

NotesAccording to the media, the Indian Government is considering to introduce a cess on all vegetable oil imports, with a view to set up an ‘Oilseed Development Fund’ tasked to boost the country’s stagnating oilcrop production. Reportedly, the proposed cess would be collected from importers in the form of a 5 percent tariff surcharge.