01/04/2016 (India Times) - Big palm oil refiners and manufacturers like Adani Wilmar, Ruchi Soya, Emami are in trouble as imported crude and refined palm oils from Malaysia and Indonesia are available at the same price in India.

Though the duty differential between crude and refined palm oil is 7.5%, edible oil sellers are finding it more convenient to import refined palm oil directly from Malaysia and Indonesia and sell it in the domestic market.

 While Malaysia has imposed a 5% export duty on crude palm oil (CPO), Indonesia has imposed a levy of $50 per tonne of CPO. But both countries have not imposed any duty on export of refined palm oil.

"This recent move by Malaysia and Indonesia is detrimental to the Indian refining industry," said Angshu Mallick, chief operating officer, Adani Wilmar.

"At Adani Wilmar we have created huge refining capacities that have generated employment for a good number of people. If our government does not increase duty on imported refined palm oil then all the refiners will be in deep trouble." Adani Wilmar sells edible oil under the brand name Fortune.