date:Jul 16, 2013
India is evaluating plans to raise the import tax on refined edible oil, in order to discourage the rising shipments from Indonesia and Malaysia, which are affecting the local refiners.
Currently, India imposes a 7.5% tax on edible oil imports. Domestic refiners have been complaining that their business is under pressure after Indonesia increased export tax on crude palm oil in order to promote local production of refined oil, reported the Wall Street Journal.
In addition, bulk buyers of refin