22/12/2008 (My Iris) - The government will consider imposing import duty on crude palm oil in order to protect Indian oilseed industry amid a steep fall in international prices, commerce and industry minister Kamal Nath revealed after the meeting representatives of the edible oil industry.

On being asked if he held a positive view on the imposition of duty, Nath said, ``government will consider the matter and if factually the position is correct, protection of Indian industry will be given first priority.``
 
Indore-based Soyabean Processors Association has demanded that a 20% import duty be imposed on crude palm oil, which accounts for about 85%  of the country`s total edible oil imports.

According to the official sources, the minister enquired about the possible impact of the duty hike on retail prices of cooking oil. Industry representatives told Nath that the prices will increase by Rs 3-4 a litre.