AreaIndia
Commodity GroupOilseeds, oils and meals
CommodityAll vegetable oils
Date01/12/2014
Policy CategoryTrade
Policy InstrumentImport policy
DescriptionRaised import tariff for both crude and refined edible oils, with a view to protect local refiners as well as farmers from price drops caused by rising imports.
NotesAcknowledging that rising vegetable oil imports have led to a significant drop in local prices and hurt the refining industry as well as farmers, the government decided to raise by 5 percent Indias import tariff for both crude and refined edible oils. The decision by Indonesia and Malaysia (towards the end of last year) to suspend their palm oil export duties, together with falling international prices, led to a surge in Indias imports, in particular of palm oil products. Indias new import tariffs fixed at 7.5% and 15% respectively for crude and refined oils have come into effect on December 25th 2014. The industry had asked for stronger duty increases, especially for refined oils, with a view to enhance the competitiveness of the domestic refining sector.
