Import duty cuts on crude and refined palm oil could jeopardise mission to raise oilseeds production

摘要

With effect from January 1, 2020, the import duties on crude as well as refined palm oils have been relaxed by the Centre. The import duty on refined palm oil (RPO) has been reduced from 50% to 45%, while that on crude palm oil (CPO) was cut from 45% to 37.5% under the Association of Southeast Asian Nations (ASEAN) agreement and India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) agreement.