December 28, 2018 / 8:01 AM / 5 months ago

India likely to cut import tax on palm oil: government source

A worker shows palm oil fruits at palm oil plantation in Topoyo village in Mamuju, Indonesia, Sulawesi Island, March 25, 2017 in this photo taken by Antara Foto. Antara Foto/Akbar Tado/via REUTERS

NEW DELHI (Reuters) - India is likely to cut import tax on palm oil, a government source said on Friday, in line with New Delhi’s trade agreements with Southeast Asian countries.

Earlier this year, India, the world’s top buyer of vegetable oils, raised the import tax on crude palm oil to 44 percent from 30 percent and lifted the tax on refined palm oil to 54 percent from 40 percent.

India imports palm oil from Malaysia and Indonesia.

Reporting by Mayank Bhardwaj; Editing by Subhranshu Sahu

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below