December 21, 2012
India to reduce import duty for oilseeds
India plans to reduce the present 30% levy on oilseed import to 5-10%
The final decision on the issue will be made public in early 2013, following the adoption of the state budget for next year by India.
The main reason for reduction of the import duty is the aim of the Indian authorities to simplify the process of oilseed imports in the country, and loading of the domestic processing capacities of the commodity, which will allow making up the deficit of food vegetable oils, which is now observed in India.
