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 worlds top importer of palm oil.