Once the price of palm oil has fallen in the world market, Indian importers have increased the import of savings again. In May and June 2025, the volume is expected to increase even. Prior to this, however, the Cooking Oil Industry Body Solving Administrative Association (SEA) had demanded an increase in the import of refined palm oil to protect the domestic processing industry from the current 32.5 percent to 40 per cent. The President of the Indian Solving Extraction Association, Sanjeev Asthana, has written to Indian Food and Consumer Affairs Minister Bralhad Joshi to increase import tax differences between CPO and RPD Pomolin to provide equal opportunities to domestic refinery.
‘Prepare products affect the domestic industry’
Asthana said that this import of finished goods is unlike our national interests and that the capacity of our palm refinery is affected. He said that the refined Pamolin is currently $ 50 per tonne. The main reason for the increase in pomoline imports is the stimulus provided by its exporting countries (Malaysia and Indonesia). He has a high export duty on the CPO and a low export duty on Pamolin (finished product).
40 per cent import duty on duty
The Astana minister has urged the RPD Palmol to increase the current 32.5 per cent to 40 per cent. Since September 14, 2024, the basic habits of crude soybean oil, crude palm oil and raw sunflower oil have been increased from minus to 20 per cent, thus the useful fee of crude oils is 27.5 per cent. In addition, the basic customs duty on refined palm oil, refined sunflower oil and purified soybean oil has been increased from 12.5 per cent to 32.5 per cent, which has reduced the cost of 35.75 per cent of refined oils. India meets more than 50 percent of its cooking oil demand.
Increasing imports in the original pamay
At the same time, Shankar Thacker, the national leader of the All India Food Oil Traders and the National Minister of the All India Trade Federation (GATE), has re -accomplished the purchase of palm oil after five months, as it has become more cheaper than soy oil. Currently, the price of crude palm oil is 0 1,050 per tonne and $ 1,100 per ton of soy oil. In such a situation, Indian importers are urging to increase stock again. It is estimated that the import of raw palm oil in May will be over 500,000 tonnes and more than 600,000 tonnes in June. (With the input of PTI)
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