SEA wants Centre to restrict import of refined palm oils to save local biz

After a long time, domestic oilseeds have started selling above minimum support price (MSP) and improving farm incomes

Stating that narrowing of import duty difference between refined and crude palm oils has the potential to kill the domestic refining industry, industry body SEA on Thursday demanded that the Centre again curb the import of refined palm oil and reinstate the earlier duty differential of 11 per cent between the two oils.

In December 2021, the government reduced import duty on RBD palmolein and RBD palm oils by 5.5 per cent to check prices of edible oils in the domestic market.

With this reduction, the import duty difference between refined palm oils and crude palm oil (CPO) was reduced to 5.5