Restrictions put on palm oil imports, move to hit shipments from Malaysia

The move comes against the backdrop of remarks by Malaysia on the new citizenship law and Kashmir issue

The government on Wednesday imposed restrictions on imports of refined palm oil, a move which could discourage the inbound shipment of the commodity from Malaysia.

According to a notification of the Directorate General of Foreign Trade (DGFT), “import policy” is amended from “free to restricted” for refined bleached deodorised palm oil and refined bleached deodorised palmolein.

Putting the commodity in restricted category means an importer will require licence or permission for the inbound shipment.

India, the world’s largest importer of vegetable oils, buys nearly 15 million tonne annually. Of this, palm oil comprises 9 million tonne and the rest 6 million tonne soybean