date:Aug 13, 2018
e Government of India increased the import duty on CPO from 33 per cent to 48.4 per cent. Subsequently, on June 14, duty on soft oils was increased to 38.5 per cent. The move was undertaken to help farmers. But, prices of soybean, for example, have declined by 6.4 per cent since April to trade currently at Rs 3,538 a quintal. Sunflower seed price has declined by 3.7 per cent to Rs 3,900 a quintal since April.
At the current tariff value of $613 a tonne for refined palmolein, the amount of custo