Edible Oil Sector Unhappy Over Import Duty Cuts

The edible oil industry is unhappy over the consistent reduction of import duty on edible oils. It will not only affect the edible oil processing sector but will also discourage farmers from sowing edible oilseeds, fear industry members.

The Solvent Extractors Association (SEA) of India, in a memorandum to the finance and commerce ministers has urged the government to raise the import duty by at least 25 per cent on all edible oils and also to regulate the excessive import of edible oils through the quantitative restriction (QR) or other appropriate measures.