Trending News
Baltic Exchange Market Report (6 September 2024)...
  Daily Exim

NEWS DETAILS

Date: 20/09/2024

India imposes 20 pc import tax on edible oils

India has imposed a 20% basic Customs duty on crude palm oil, crude soyoil and crude sunflower oil from September 14, according to a notification. It will effectively increase the total import duty on the three oils to 27.5% from 5.5% as they are also subject to India’s Agriculture Infrastructure and Development Cess and Social Welfare Surcharge. Imports of refined palm oil, refined soyoil and refined sunflower oil will attract 35.75% import duty against the earlier duty of 13.75%. India meets more than 70% of its vegetable oil demand through imports. It buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine. The move has increased the likelihood of farmers receiving the minimum support price set by the government for their soybean and rapeseed harvests, as per a report.
 
Source: Exim News Service: New Delhi, Sept. 19



Featured News

EXIM INDIA ONLINE SERVICES

APPOINTMENTS

View All

USEFULL LINKS

View All

Introduction

EXIM INDIA is a reputed and all-India recognised premier publishing house. It publishes a daily newspaper.

It publishes a daily newspaper "Exim Newsletter" from Mumbai, Gujarat and New Delhi / NCR / North India, and Exim India - 'Shipping Times' from Kolkata, Chennai, Cochin and Tuticorin for the last 46 years.

Read More

QUICK LINKS

Contact Details

Inquiry

© | Exim India. All rights Reserved.