India hikes import duties on edible oil, but questions remain
Satyapal Menon | The Dollar Business India’s edible oil sector continues to be in a conundrum, with the government having to resort to short term measures yet again. The recent announcement by the government to increase the import duties on crude edible oils from the earlier 2.5% to 7.5%, and on refined edible oil from the earlier 10% to 15% calls for some introspection, since the decision, though ostensibly flaunted as a measure to protect the interests of farmers, is actually a myopic and insufficient solution. The government took the decision this week following repeated requests by several organisations such as the Soybean Processors Association of India (SOPA) and the Indian Vanaspati Producers Association (IVPA) to prevent a ...
