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Govt raises import duty on palm oil, soyoil to support farmers

World's biggest importer of edible oils also raised the import tax on crude soyoil to 30%

Reuters  |  New Delhi 

import duty on oil, oil

doubled the import on crude palm to 30 per cent, while the duty on refined palm has been raised to 40 per cent from 25 per cent earlier, the said in an order late on Friday, as it tries to support local farmers.

The world's biggest of also raised the import on crude to 30 per cent from 17.5 per cent earlier. It raised the import on refined to 35 per cent from 20 per cent earlier, it said.

imports palm mainly from Indonesia and Malaysia and from Argentina and Brazil.

First Published: Sat, November 18 2017. 12:02 IST