Government to promote domestic industry soon Import duty on edible oil & Spices are set to increase above at 2 percent. According to exclusive food ministry cleared the proposal and is awaiting approval from the cabinet.
Import duty on refined edible oil sources increased from 10 per cent to be 7.per cent. However, the imported vegetable oil such as soy and palm oil increased from 10 percent to be 7.3 percent.
After the decision to increase import duty instead of eating refined crude oil will increase, which will ease the domestic industry. In India Indonesia after the change in duty import refined oil is 10 to 40 per cent. According to industry import duty will not increase the burden on the customer.
Import duty on refined edible oil sources increased from 10 per cent to be 7.per cent. However, the imported vegetable oil such as soy and palm oil increased from 10 percent to be 7.3 percent.
After the decision to increase import duty instead of eating refined crude oil will increase, which will ease the domestic industry. In India Indonesia after the change in duty import refined oil is 10 to 40 per cent. According to industry import duty will not increase the burden on the customer.
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