Solvent Extractors demand raise in import duty on palm oil
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New Delhi, Nov. 26 -- The Solvent Extractors' Association (SEA) of India has urged the Government to raise the import duty on refined palm oil to 20 per cent from the current 12.5 per cent in order to protect domestic refiners.
In a memorandum to union sent to the commerce minister Piyush Goyal, SEA pointed out that raising the duty difference to 15 per cent from the current 7.5 per cent will provide a level playing field to domestic edible oil refiners.
"We would like to bring to your kind notice the plight of the Indian Palm Oil Refining industry which has the potential of seriously impacting the health of this sector which can have long-term ramifications," the memorandum which was sent earlier this week read.
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