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India raises import tax on crude palm oil to 44% from 37.5% earlier

The hike in import duty on palm oil could prompt buyers to increase purchases of rival edible oils such as soya oil and sunflower oil, traders said

Reuters  |  Mumbai 

Palm oil, edible

India has raised import tax on to 44 per cent from 37.5 per cent, a government notification said on Saturday, as the world's biggest palm oil importer tries to boost local oilseed production.
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The hike in import duty on palm oil could prompt buyers to increase purchases of rival edible oils such as soyoil and sunflower oil, traders said.
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First Published: Sat, February 01 2020. 14:46 IST
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