AreaIndia

Commodity GroupOilseeds, oils and meals

CommodityPalm oil

Date01/02/2020

Policy CategoryTrade

Policy InstrumentImport policy

DescriptionRaised 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 country’s dependence on imported oils.

NotesINDIA – import policy: Separately, in an attempt to encourage domestic oilseed production and reduce the country’s dependence on imported oils, India’s 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.