New Delhi, Feb 15 (PTI) The government today hiked customs duty on crudepalm oils by 15 per cent and lowered their tariff values from 54 to 74dollars per tonne following the fall in global prices of the edible oil.Customs duty on crude palm oil and its fractions was increased from 65 percent to 80 per cent and on other palm oils from 75 to 90 per cent, anofficial release said today.
The tariff value for determining customs duty on crude palm oil has beenbrought down from 454 dollars per tonne to 400 dollars per tonne.
For RBD palm oil the tariff value has been brought down from 489 dollarsper tonne to 415 dollars and for other palm oils from 471 dollars pertonne to 410 dollars.
In case of crude palmolein, it has been brought down from 479 dollars pertonne to 412 dollars per tonne, RBD palmolein from 497 to 425 dollars pertonne, and other palmolein from 488 to 420 dollars per tonne, the releasesaid.
The reduction in tariff values coupled with increase in customs duty,effective from today, is expected to take care of interests of both thefarmers as well as the customers, the release said. PTI