Sharekhan Commodities Buzz dated January 03, 2007

Soy oil: Lower duty on SAFTA edible oil imports
India has cut the import duty on refined edible oil coming from Pakistan and Sri Lanka to 52.5% from 68.75%. The duty on edible oil imports from Nepal, Bangladesh, Maldives and Bhutan has been cut to 52.5% from 56.67%, an official notification from the Central Board of Excise and Customs said. The duty on crude palm oil imports from the South Asian Free Trade Agreement (SAFTA) member nations has been reduced to 50%. However, this move is not going to make a very big impact, as edible oil imported from SAFTA constitutes a very negligible part of the total edible oil imports.

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