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India has no plan to hike import duty on edible oil - food minister

Source : REUTERS
Last Updated: Thu, Dec 06, 2012 06:40 hrs

NEW DELHI, Dec 6 (Reuters) - India has no proposals to raise import duty on edible oils, Food Minister K.V. Thomas said on Thursday, rejecting an earlier demand from the oilseed crushing industry.

India, the world's top vegetable oil importer, allows duty-free imports of crude edible oil, while imposes a 7.5 percent duty on refined oil.

"I don't have any proposal as of now to increase import duties on edible oils," Thomas said.

The country's oilseed crushing industry had made a proposal to Farm Minister Sharad Pawar in November, seeking a 10 percent tax on imports of crude edible oil. (Reporting by Ratnajyoti Dutta; writing by Siddesh Mayenkar; Editing by Gopakumar Warrier)




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