India will stop duty-free imports of soybean oil from 1 April and sunflower oil will become attractive

India will end duty-free imports of crude soybean oil from April 1, the government said as the world's largest importer of vegetable oils tries to support local oilseed producers. New Delhi allowed duty-free imports of 2 million tons of soybean oil in MY 2022/23 in May 2022 and originally planned duty-free imports of another 2 million tons in MY 2023/24. The government will continue duty-free imports of 2 million tons of unrefined sunflower oil in the current and next fiscal year until March 2024, the government said. India imports soybean oil mainly from Argentina, Brazil and the United States and supplies sunflower oil from Russia and Ukraine. Ending duty-free imports would help compete with palm oil, ...