Cheap palmolein imports were affecting the edible oil refining sector and can have long -term ramifications | Photo credit: Istock
The solvent extractors Association of India (Sea) you have urged minister for consumer affairs, food and public distribution pralhad Joshi to increase the import duty on rbd (refined, bleached and deodorized) palmolein to 40 per cent from the cent the from from the From the from the from the card from the from the from the from the card from the from the from the card from the from the card from the from the from the car from the car of the car of the car from the car of the car from the car from the car of the car from the car from the car from the center from the cent.
In a letter to Joshi, the president of Sea, Sanjeev Asthana, said that the difference in duty between the RBD palmolein and raw palm oil was only 7.5 percent and should increase at least at least 15 percent.
“We believe that the 15 percent tax difference would help reduce palmolein imports and replace the same with raw palm oil imports. General imports to the country would not be affected and will have no impact on edible oil inflation,” he said.
Improve use
This decision will help improve the use of capacity and employment generation in the country. He would be in line with the vision of the Prime Minister of “Make In India,” said the president of the sea.
Cheap palmolein imports were affecting the edible oil refining sector and can have long -term ramifications.
“India imports large amounts of Indonesian and Malaysian palm oil. Traditionally, raw palm oil is imported by Indian refineries and mass investment has made a leg made in the port refining industry based on the port to meet the growing demand.
The importation of raw palm oil helps addition to value within the country, separated from generating employment. The current difference in import taxes between raw and refined oils or 7.5 percent encourages the importation of refined palmolein instead of CPO, he said.
Palmolein $ 50/t cheaper
Noting the data, he currently said, the cost and freight price of the RBD palmolein are cheaper in $ 50 per ton compared to the CPO. This was against the interest of the nation, he said.
The main reason for the increase in Palmolein imports is that Malaysia and Indonesia were encouraging exports of their processing industry and imported higher export taxes in CPO. The current service differential between the RBD Palmolein and the CPO is insufficient to verify these imports, said Asthana.
As the national refining industry suffered, the situation required a correction of the course, he said.
Posted on April 25, 2025