MARKET DEVELOPMENT
India cuts duty on some edible oil imports
India cuts duty on some edible oil imports
2/1/07 NEW DELHI (Reuters) - India, one of the world's top importers of edible oils, has cut import duties on refined oils from Pakistan and Sri Lanka to 52.5 percent from 68.75 percent earlier.
Duty on edible oil imports from Bhutan, Maldives, Nepal, Bangladesh and Bhutan has been reduced to 52.5 percent from 56.6 percent, a notification posted on Saturday on a government Web site showed.
Trade officials said the cuts were unlikely to have any major impact as India imports most of its palm oils from Malaysia and Indonesia, and soyoil from Brazil and Argentina.