India may raise import duties on vegetable oils
India is likely to raise import duties on vegetable oils for the second time in less than six months to support thousands of oilseed farmers hit by falling domestic oilseed prices, two government sources told Reuters on Friday.
The increase in import duties by the world’s largest importer of edible oils could lead to higher local prices for oil and oilseeds, while potentially reducing demand and reducing foreign purchases of palm, soybean and sunflower oil.
In September 2024, India imposed a 20% basic duty on crude and refined vegetable oils. After the revision, crude palm oil, crude soybean oil and crude sunflower oil were subject to an import duty of 27.5% compared to 5.5% previously, while refined grades of the three oils are now subject to an import duty of 35.75%.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
AgriSupp Update: Export Data for 36 Countries Now Available!
IGC forecasts decline in global wheat production in MY 2026/27
IGC raises 2026/27 corn outlook on improved Argentina and India prospects
European Union approved the final trade agreement with the US
Heat in Europe supports growth in rapeseed prices
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon