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
BLACK SEA OIL TRADE: Showcase Your Business Among the Key Market Makers!
Ukraine. Starting in June, minimum export prices will be determined in a new way
Algeria forecasts stable wheat and barley harvest for 2025/26
FAO expects production of all major cereals to increase in 2025/26
Ukraine. Current European quotas will be enough for 2-3 months of exports
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon