Indian veg oil imports rise near to one-year high
The Pulic Ledger .Monday January 13 2014
India's vegetable oil imports in December climbed 13% to an 11-month high, data from a trade body showed, as poor local supply and fears the country would soon hike duties on overseas purchases of edible oils prompted traders to stock up.
The government finally hiked duties last week - to 10% on all refined edible oils, including palm oil, up from 7.5% - after fierce lobbying from domestic refiners desperate to curb a flood of cheap imports from Indonesia, the world's leading palm oil producer.
No comments:
Post a Comment