The government today clarified that import duty exemption on crude edible oils would be applicable to virgin olive oil imports as well.
The government had allowed import of crude edible oils at zero duty from April 1 last year to cool prices, but confusion remained on whether olive oil imports would be able to avail the benefit.
In a circular, the Central Bureau of Excise and Customs today clarified edible virgin olive oils that have not undergone any refining process are eligible for the import duty waiver. However, oil obtained by solvent extraction from residue after the olives have been processed to produce virgin olive oil will continue to attract import duty.
India imports about 25,000-30,000 tonnes olive oil every year, mainly from European Union.
