India cuts tax on palm oil imports; Malaysia to gain most
* India cuts import tax on CPO to 40 pct from 44 pct earlier * Refined palm to be taxed at 50 pct vs 54 pct earlier * Malaysian refined palm oil to attract 45 pct import tax * Palm oil imports
India's palm oil imports could have fallen in December but will jump this month as some importers had delayed shipments in anticipation of tax cuts, said B.V. Mehta, executive director of the SEA. The effective duty difference between crude and refined palm oil has narrowed to 5.5 percent from 11 percent for shipments from Malaysia, which could lead to higher imports of refined palm oil, Mehta
India cuts tax on palm oil imports; Malaysia to gain most
In March 2024, India raised the import tax on crude palm oil to 44% from 30% and lifted the tax on refined palm oil to 54% from 40%. Palm oil has being more competitive due to the duty reduction and this will lead to higher imports from January onwards, said Sandeep Bajoria, chief executive of the Sunvin Group, a Mumbai-based vegetable oil
MUMBAI: India has cut import taxes on crude and refined palm oil from Southeast Asian (ASEAN) countries after a request from suppliers, a government notification said. The reduction will lead to
Indonesia Presses India to Cut Import Duty on Palm Oil
India is the largest importer of Indonesian palm oil. However, of late, the Indian government, with the intent to protect local farmers, had raised the import duty on crude and refined palm oil three times since last November. The current import duty on palm oil is the highest it's been in over a decade.
UPDATE 1-India cuts tax on palm oil imports; Malaysia to gain most. UPDATE 1-India cuts tax on palm oil imports; Malaysia to gain most. Breaking News. How would you best describe yourself? Individual Investor Institutional Investor Financial Advisor Active Trader. Thank you! Quotes. All Instrument Types . All Instrument Types; Indices; Equities; ETFs; Funds; Commodities; Currencies;
India cuts import taxes on wheat, palm oil, refined oils
The cut in taxes on the import of crude palm oil and refined edible oils is expected to increase demand for palm oil from Malaysia and Indonesia, major
NEW DELHI: India’s food ministry wants to double the import tax on crude edible oils and raise that on refined oils by 50 per cent, but is waiting for other ministries to give their views before passing its recommendation to the Cabinet, the food minister said.
India raises import tax on palm oil to highest in a decade
India has raised import tax on crude and refined palm oil to the highest level in more than a decade, the government said in a statement on Thursday, as the world's biggest edible oil importer
Now with Malaysian palm oil prices near 6-1/2 year lows, imports could rise even more, undermining Prime Minister Narendra Modi's efforts to make the country self-sufficient in edible oils