AreaIndia

Commodity GroupOilseeds, oils and meals

CommodityPalm oil

Date01/03/2018

Policy CategoryTrade

Policy InstrumentImport policy

DescriptionIncreased import duties for crude and refined palm oil, in a bid to stimulate local oilseed production and help curb edible oil imports.

NotesThe import duties for crude and refined palm oil – which were raised twice last year – have been increased further, with effect from 1 March 2018. The tariffs for crude and refined palm oil were raised to, respectively, 44 percent and 54 percent (from previously 30 percent and 40 percent) – i.e. the highest level in more than a decade. The third increase in tariffs in less than six month is meant to push up domestic prices of edible oils and back local oilseeds prices, in a bid to stimulate local oilseed production and help curb edible oil imports. India is the world’s top importer of palm oil.