India to cut palm oil duty to 30%

The 65% import duty on crude palm oil imports currently charged by the Indian governement may drop by 30% to respond to a possible lower domestic oilseed crop, according to Indian media. The same might also be done for the current 35% duty on oilseed imports to meet the increasing worry from the Indian market regarding prices of most edible oils which keep on going up due to lower than expected rainfalls from the current Indian monsoon.