India Increases Duty on Palm Oil Imports

The Indian government has increased import duty on crude palm oil (CPO) by US$5 per ton and on refined, bleached and deodorized (RBD) palm olein by US$9 per ton, the Bernama reported last week.  The revised tariffs on palm oil and other commodities were issued by the Finance Ministry last week.  With the new duty structure, the base import price of crude palm oil will be US$545 per ton, RBD palm oil at US$577 and RBD palm olein at US$582.  

India is the world’s largest importer of vegetable oils with its monthly requirement being 1.9 million tons.