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Policy● Neutral for Indian equities
India steps up palm oil buying after import-duty cut spurs restocking
The brief
- Refiners have bought more than 200,000 tons of crude palm oil
- The import-duty reduction is prompting refiners to restock
- Higher palm oil imports may affect edible-oil costs for Indian consumers and food companies
- Chinese mobile covers likely to cost more as govt imposes anti-dumping duty
- Pulses import duties may ease over poor rains
- India hikes anti-dumping duty on jute goods from Bangladesh, Nepal
- Restore 44% import duty on crude palm oil, Telangana minister Tummala says
- India weighs scrap import rule changes as recyclers push for port checks
India’s edible-oil import duty cuts
India cut basic customs duties on crude soybean and palm oils from 10% to 5%, and on refined oils from 32.5% to 27.5%, to lower prices ahead of festivals. Farmers raised concerns, while the government said it would procure oilseeds and pulses from growers selling below MSP.
Thursday, 1 October
- India steps up palm oil buying after import-duty cut spurs restocking