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English Release 16-April 2014
Date Month Year
  • President's Secretariat
  • Probationers of Indian Postal Service and Indian P&T Accounts and Finance Service call on the President
  • Election Commission
  • Facts at a Glance: Jammu & Kashmir (5th Poll Day)
  • Min of Commerce & Industry
  • Indian Industry has an Important Role to Play in Developing Standards: Cabinet Secretary
  • Ministry of Finance
  • Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, ARECA Nuts, Gold and Silver Notified
  • Min of Information & Broadcasting
  • 61st National Film Awards for 2013 Announced
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Diesel Under-Recovery declines to Rs 5.49/litre for the fortnight commencing 16.4.2014

Previous Date

 
Ministry of Agriculture17-January, 2013 17:56 IST
Restructuring of Import Duty on crude edible Oil

The Cabinet Committee on Economic Affairs has given its approval for the enhancement of import duty on crude edible oils from 0 to 2.5 percent, while retaining the present import duty of 7.5 percent on all refined edible oils. This has been done with the objective to shore up the price payable to farmers for Fresh Fruit Bunches of oil palm, which is linked to the landed price of Crude Palm Oil (CPO). With enhanced duty on CPO, price payable to farmers will increase by around Rs. 150 per MT.

Impact of enhanced duty on prices of edible oils would be negligible at less than Rs. 1 per kg. The price may be further moderated on account of the huge stocks of palm oil in Malaysia and Indonesia, which may force these countries to lower the export duty currently levied in an effort to boost their exports.

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SC/SH
(Release ID :91655)

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