India: Reconsider decision on import duty cut on crude palm oil

CM Naidu, urging reconsideration to rollback the Centre’s recent decision to reduce import duty on Crude Palm Oil (CPO) by 10%, as per gazette notification released on May 30. In his letter, Naidu highlighted that the timing of the duty reduction – announced during the peak plantation season – could seriously disrupt the success of the National Mission on Edible Oils – Oil Palm (NMEO-OP) and hurt farmer income. “This decision, while perhaps intended to address short-term concerns, stands to seriously undermine the long-term vision and efforts being made by both the Government of India and the States, including Andhra Pradesh, to promote oil palm cultivation under the NMEO-OP, Naidu explained. AP accounts for over 50% of the total oil palm cultivation area in India, with 1.74 lakh farmers cultivating across 2.49 lakh hectares. The State has already achieved 67,727 hectares of oil palm coverage, and targets an additional 50,000 hectares this year, he stated. For almost 30 years of ...