vegetable oils

Duty cut lifts India’s palm oil imports in Sept to a record 1.4 mn tonnes

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Duty cut lifts India’s palm oil imports in Sept to a record 1.4 mn tonnes

India’s palm oil imports in September more than doubled from a year ago to a record 1.4 million tonnes as buyers increased purchases of refined palm oil ahead of key festivals and to take advantage of newly lowered duties, brokers and dealers said. Higher purchases by India, the world’s biggest buyer of vegetable oils, could … Read more

India’s tax increase on crude palm oil imports could reduce shipments

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India’s tax increase on crude palm oil imports could reduce shipments

India has imposed an additional tax on crude palm oil imports as the world’s biggest importer of vegetable oils tries to build domestic agriculture infrastructure by taxing imports, Finance Minister Nirmala Sitharaman said on Monday. India cut the basic import tax on crude palm oil to 15% from 27.5%, but imposed a 17.5% “cess” – … Read more