India's Commerce Ministry seeks higher duty on refined palm oil imported from Msia

India's Commerce Ministry seeks higher duty on refined palm oil imported from Msia

The Edge Markets - Malaysia·2019-08-27 01:57

NEW DELHI (Aug 26): India's Commerce Ministry has recommended an increase in the import duty on refined palm oil from Malaysia, in response to a demand by domestic refiners.

Once the Indian Finance Ministry accepts the decision, the import tax differential between crude and refined palm oil will be 10%, irrespective of the product's origin, an industry body said, while welcoming the move on Monday.

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