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News Admin
 
Date
 16/02/2005
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Oilmandi
Headline
 India crude palm oil customs duty raised to 80% fr

2/15/05--India cuts crude palm oil base import price to $400/tn vs $454

--India cuts crude palmolein base import price to $412/tn vs $479

--India cuts RBD palmolein base import price to $425/tn vs $497

The government Tuesday hiked the import duty on crude palm oil to 80% fromthe existing 65%. Import duty on refined bleached and deodorised palm andpalmolein oil was increased to 90% from 75%. However, the base price onwhich the duty is levied on varieties of palm oil, was cut up to U.S. $74per tonne.

According to a statement issued by the finance ministry, the new baseprice to levy import duty on crude palm oil is $400 per tonne, against$454 earlier, in line with the decline in international prices.

The government levies import duty on palm oil at a fixed priceirrespective of the rates at which imports have actually taken place.


ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7803 5544 || Fax : 603 - 7803 3533