Last Updated :
02 November 2009 at 11:10 IST
India edible oil industry demands for high import duty
NEW DELHI (Commodity Online): Despite the continues demand for a higher import duties on edible oil by Indian edible oil industry, government fears a hike in duties would cause for a rise in domestic prices, eventually to higher inflation.
Indian edible industry reiterated their demand in the wake of higher supply of edible oils in the country from abroad, which it allege hurting the domestic growers and may lead to a fall in acreage.
In September, vegetable oil imports, which include edible and non-edible oil, hit an all-time monthly high of 905,192 metric tonnes. Total vegetable oil imports in the November-September period were up 48% at 8 million tons from 5.4 million tons a year earlier.
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