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Farmers protest to press Centre for higher import tax on edible oils

This comes on the back of slump in oilseed prices to below government support levels

Reuters  |  Mumbai 

The Centre is facing mounting pressure to raise import duties on edible oils after farmers staged mass protests in key farm states amid a slump in oilseed prices to below government support levels. Local oilseed crushers are struggling to compete with cheaper edible oil imports from Indonesia, Malaysia, Brazil and Argentina, reducing demand for local rapeseed and soybeans, even after prices tumbled by a third over the past 14 months due to bumper global production. Politically powerful farm groups want the government to raise import duties, boosting margins for local oilseed ...

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First Published: Thu, June 22 2017. 14:12 IST