Search Result for : Crude Palm Oil

Govt raises import duty on edible oils to boost local prices

The Dollar Business Bureau The Government has raised the import duty on nearly all the edible oils in a bid to control cheap imports and to boost domestic prices to support the local refiners and farmers.  “Import duty on crude palm oil has been increased to 30% from 15% and on refined oil to 40% from 25%,” according to notification (No.87/2017-customs), issued by the Department of Revenue, Ministry of Finance. Import duty on sunflower oils, soyabean oil, canola/mustard oils, including crude as well as refined format, has been increased, the notification said. The basic custom duty on crude palm oil has been doubled to 30%, whereas the import duty on refined crude palm oil been raised to 40% from the current 25%, it said. In addition, ...

Indias palm oil imports increase by 2.25% in April

The Dollar Business Bureau India had imported 7,36,036 tonnes of palm oil in April 2017. It is one of the leading buyers of vegetable oils in the world. Its total vegetable oil import increased by 7% to 13,39,489 tonnes in April this year, from 12,48,887 tonnes of the previous year. According to the industry body, Solvent Extractors Association (SEA), in April India’s palm oil imports rose 2.25% to 7,52,632 tonnes due to higher shipment of crude palm oil. Of the total oils imported into India palm oils take up 62% of the share. In the first half of the year vegetable oils imports declined to 43,02135 tonnes from 43,40,890 tonnes imported the previous year. SEA says the difference in the landed price between ...

Indias edible oil imports to increase by 15-20%

The Dollar Business Bureau   India's import bill for edible oil is expected to increase by 15-20 percent during the current oil year, from November 2015-October 2016, due a significant rise in the crude palm oil prices in the world markets and a supply shortage in domestic market. A decline in production of edible oil in local market, and a sudden increase in demand on subdued prices over the last year, has broadened the supply deficit in India. During the oil year 2014-15, India’s vegetable oil (edible and non-edible) imports were about 14.5 million tonnes, amounting to Rs.60,000 crore. This is expected to increase to 16 million tonnes, worth Rs.75,000 crore, by the end of October 2016. According to the data compiled by Solvent Extractors' ...

Tariff value of specified goods further revised No - 142

Dated 15th December, 2015 | Copy of | Notification No.142/2015-Customs (N.T.) | In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O.748 (E), dated the 3rd August, 2001, namely:- In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted namely:- “TABLE-1  TABLE-2   TABLE-3  Sd/- (Satyajit Mohanty) Director (ICD) ...

Tariff Value Of Specified Goods Further Revised-135/2015-Customs

Dated 30th November, 2015 | Copy of | Notification No.135/2015-Customs (N.T.) | In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O.748 (E), dated the 3rd August, 2001, namely:- In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted namely:- Sd/- (Kshitendra Verma) Under Secretary to the Government of ...