Following India, two more countries reduced import duties on sunflower oil

Importing countries began to reduce import duties on vegetable oils in order to reduce domestic food prices. It is reported by GrainTrade. Following India, the Turkish government decided to zero the import duty on crude sunflower oil and safflower seeds by the end of the year. At the same time, the country has a zero duty on the import of sunflower seeds. According to Oil World experts, the Pakistani government announced a significant reduction in import duties on vegetable oils amid high world prices for them. It is expected that compared to the current level, the import duty on vegetable oils will be halved, the trade tax - from 17% to 8.5%, and an additional 2% import duty will be canceled. Due to high taxes and duties on imports of vegetable oils, Pakistan in July-September reduced the purchase of palm and soybean oil by 19% to 831 thousand tons. And in general, in 2020/21 MY (October-September), compared to the previous season, the import of palm oil from 3.28 to 3.06 million ...