Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
India considers raising palm oil import tax to help rapeseed farmers.
Mar 07, 2023
India, the world's biggest importer of vegetable oils, is considering raising its import duty on palm oil to help support local farmers reeling from a crash in domestic rapeseed prices, government and industry officials said on Monday.
The increase in the tax on palm oil could lift local prices, making the tropical oil a little less competitive than rival soyoil and sunflower oil.
'We have proposed an increase in import duty on palm oil to support rapeseed prices,' said a government official, who declined to be named in line with official rules.
'Rapeseed supplies from the new season are putting pressure on prices, which have fallen below MSP (minimum support price),' said the source referring to the government-set rate which acts like a benchmark for the domestic market.
If commodity prices fall below MSPs, the government usually tries to help prop up rates to protect farmers.
In spot markets, rapeseed prices were around 5,000 Indian rupees ($61.21) per 100 kg, below the government-fixed price of 5,450 rupees per 100 kg.
Indian farmers plant rapeseed, the main winter-sown oilseed, in October and November, with harvests from March. Higher prices encouraged farmers to expand the area under rapeseed.
After abolishing the basic import tax on crude palm oil (CPO) last year, India continues with a 5.5% tax on CPO shipments. The country also levies a 12.5% import tax on refined, bleached and deodorized palm oil.
'Since world prices have dropped, India is looking at raising the duty,' the source said. 'Overall food inflation might be a concern for the government, but vegetable oil prices have dropped.'
Lower rapeseed prices have hurt farmers from India's western state of Rajasthan, and the government would like to protect growers ahead of the state election, trade and industry officials said.
Rajasthan accounts for more than half of the rapeseed production.
'There is a proposal to raise the duty, and an inter-ministerial panel is looking into it,' said the second source, who also didn't want to be named citing official rules.
m.economictimes.com
Archive