New Delhi: The Commerce Ministry has recommended increasing customs duty on refined palm oil imported from Malaysia to 50 per cent from 45 per cent to discourage cheap shipments.
The import duty has been recommended for a period of 180 days, according to the DGTR.
India imposes 50 per cent import duty on refined palm oil while crude palm oil attracts 40 per cent duty.
Palm oil imports from Malaysia were attracting a tax of 45 per cent under an agreement.
The DGTR after an investigation has recommended a safeguard duty of 5 per cent on refined palm oil imports from Malaysia to take the effective duty to 50 per cent.
The Solvent Extractors’ Association of India (SEA) had filed a complaint that cheap shipments from Malaysia were hurting domestic producers.