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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

17/12/2002

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

NULL

CATEGORY

HEADLINE

Indian oilseeds industry seeks lower duty on impor
11/28/2002 (India Business Insight ) - The Solvent Extractors Associationof India (SEA) has urged the Government of India to reduce import duty onoilseeds from the present 30 percent to 15 percent and to relax thestringent phyto- sanitary norms for clearance.SEA has also opposed any duty difference between different segments suchas vanaspati and refinery for crude palm oil in the edible oils sector.SEA, in its pre-Budget memorandum to the Government, has made severalsuggestions that include creation of an Oilseeds and Oil Development Fundto facilitate increase in oilseed yield and grant of soft loans fortechnology upgradation. The total oilseed production is expected to beabout 1.75-1.8 million tonnes in 2002-2003, due to prevailing droughtconditions. Excessive imports of edible oils, decrease in export ofoilmeal and oilseeds have affected the oilseeds production in India.