India is likely to cut import tax on palm oil, a government source said on Friday, in line with New Delhi’s trade agreements with Southeast Asian countries.
Earlier this year, India, the world’s top buyer of vegetable oils, raised the import tax on crude palm oil to 44 per cent from 30 per cent and lifted the tax on refined palm oil to 54 per cent from 40 per cent.
India imports palm
oil from Malaysia and Indonesia.
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