India's palm oil imports set to hit six-year low, says industry official
Updated : August 17, 2018 01:41 PM IST
India in March raised its import tax on refined palm oil to 54 percent to support local farmers.
That made palm cargoes less appealing than shipments of alternative edible oils such as soyoil, sunflower oil and canola oil - at least until import duties on those commodities were raised to 45 percent in June.
India buys palm oil from Indonesia and Malaysia, with its soyoil mainly imported from Argentina and Brazil. It purchases sunflower oil from Ukraine.
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