AreaIndia

Commodity GroupOilseeds, oils and meals

CommodityPalm oil

Date01/01/2020

Policy CategoryTrade

Policy InstrumentImport policy

DescriptionConcerned about the adverse impact of refined vegetable oil imports on the domestic processing industry, the Government placed refined palm oil and palm olein on the list of goods requiring special import licences.

NotesINDIA – import policy: In January, concerned about the adverse effect of recent adjustments in the country’s palm oil duty structure on domestic oil refiners (see MPPU Sep.’19 & Jan.’20), the Government placed refined palm oil and palm olein on the list of goods requiring special import licences. Maintaining that the restriction was the equivalent of an import ban, traders anticipated a rise in the country’s imports of crude palm oil – a development expected to alter the competitive position of Malaysia (India’s main supplier of refined palm oil) and Indonesia (India’s main source for crude palm oil).