Индия ввела квоту на беспошлинную покупку пищевого масла для снижения внутренних цен

Published 2022년 7월 1일

Tridge summary

The Indian government has introduced a duty-free import quota for soybean and sunflower oil, allowing up to 0.2 million tonnes per customer to help control rising domestic prices. The quota, valid until June 30, 2023, is part of efforts to offset the impact of rising edible oil prices last year, with wholesale prices of soybean and sunflower oil being 23% and 32% higher than last year, respectively. The government's move comes as India faces disruptions in sunflower oil supplies from Ukraine due to the ongoing conflict, and challenges in importing soybean oil from Argentina due to a truckers' strike. Despite these measures, market sources suggest that the quota may not immediately lead to a significant drop in soybean oil prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Indian government has introduced a duty-free soybean and sunflower oil quota for importers with a maximum ceiling of 0.2 million tonnes per customer in an attempt to contain high domestic prices, according to a document seen by S&P Global Commodity Insights. The government-issued quota is valid for up to one year or June 30, 2023, whichever comes first. A quota for the import of crude soybean oil was issued to 99 applicants, a quota for the purchase of crude sunflower oil was allocated to 85 importing firms, oilworld.ru reports citing S&P Global. The Directorate General of Foreign Trade, which controls India's trade, granted an import quota to applicant firms after assessing their certified refined oil processing capacity. According to market sources, duty-free supplies of imported edible oil will reach India only by August, which will lead to lower prices in the domestic market. The allocation of duty-free import quotas was announced a month after the announcement, during ...

Source: Oilworld