India's rapeseed farmers urge government to raise palm oil import tax

NEW DELHI (May 10): India's oilseed growers have urged the government to raise the import tax on palm oil, the most widely used vegetable oil, to help support thousands of local farmers reeling from a crash in domestic rapeseed prices. "We have requested Prime Minister Narendra Modi to personally look into the issue of falling oilseed prices and the need to raise palm oil import duty," Rampal Jat, national president of the Kisan Mahapanchayat farmers' council, told Reuters. Last year India abolished the basic import tax on crude palm oil (CPO), but it continues with a 5% tax known as the Agriculture Infrastructure and Development Cess on CPO imports. India levies a 12.5% import tax on refined, bleached and deodorised palm oil. The government also needs to instruct its agencies to buy rapeseed at guaranteed prices, which would provide immediate relief to farmers, Jat said. Domestic rapeseed prices have dropped to 4,500 rupees (RM244.64) to 4,700 Indian rupees per 100kg, lower than ...