NEW DELHI, Jan 17 (Reuters) - India has slapped a 2.5
percent import duty on crude edible oils, Information Minister
Manish Tiwari said on Thursday, a move taken to stem overseas
purchases by the world's top vegetable oil buyer and protect its
domestic oilseed growers.
India's farmers had been calling for action against cheap
palm oil imports after Malaysia, the world's No. 2 palm oil
producer, removed export duty on its crude variant from Jan. 1.
The duty on the refined varieties of palm oil will remain
unchanged, Tiwari told reporters after a meeting of the federal
cabinet on economic affairs.
On Thursday, domestic edible oil futures rose on market talk
that India could raise duties, but government sources said at
that time the issue was not so far on Thursday's cabinet agenda.
(Reporting by Manoj Kumar; Editing by Jo Winterbottom)