INDIA: Edible oil market wanes due to high import tariffs, soyoil imports increasing
Malaysian and Indonesian palm oil exporters are loosing their hold on the Indian market for edible oils, according to regional traders. The waning market demand for palm oil, in what is traditionally the largest edible oil-importing nation, has been blamed on high Indian import tariffs. These stand at 75-85% for palm oil, leaving many businesses to turn to soyoil, which is only charged at 45%.
The waning market demand for palm oil, in what is traditionally the largest edible oil-importing nation, has been blamed on high Indian import tariffs. These stand at 75-85% for palm oil, leaving many businesses to turn to soyoil, which is only charged at 45%.
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