India Raises Import Duty on Palm Oil as Indonesia Keeps Waiver
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India, the world’s biggest buyer of palm oil, raised import duties on crude and refined varieties in a move to protect farmers from declining oilseed prices.
The tax on crude palm oil was raised to 7.5 percent from 2.5 percent, while the duty on refined grades was increased to 15 percent from 10 percent, the Central Board of Excise & Customs said on its website in a notice dated Dec. 24.