New Delhi, Dec 19 Commerce and Industry Minister Kamal Nath today said the government will look into the demands of edible oil industry to impose import duty on crude palm oil.
" They have represented for raising duty on palm oil. There is a steep fall in international prices. They want protection of the Indian oilseed industry and imposition of duty," Nath said after meeting representatives of the edible oil industry.
When asked if he has a positive view on the imposition of duty, Nath said,"We will look into it. If factually the position is correct, protection of Indian industry has to get the first priority."
The Soyabean Processors Association has demanded that a 20 per cent import duty be imposed on crude palm oil, which accounts for about 85 per cent of the country&aposs total edible oil imports.
Sources said the minister enquired about the possible impact of the duty hike on retail prices of cooking oil. Industry representatives told Nath that the prices will increase by Rs 3-4 per litre.
As part of the measures to control inflation, the government had, in April, scrapped import duty on crude edible oils. However, the Centre had recently imposed a 20 per cent import duty on crude Soya oil while leaving the duty structure of other edible oils unchanged.
Source : Indopia