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India. Oilseed industry wants revision of import duty on edible oils
22.07.2010 11:57 "Agro Perspectiva" (Kyiv) —
With oilseed crushing being considerably lower than expected in the last six months, The Solvent Extractors’ Association of India has requested government to consider revival package for the industry and suggested revision of import duty on edible oils to support farmers and the industry.
Expressing concern over the future of oilseed industry, Ashok Sethia, president, SEA, has stated in a letter to the member of the association that the trade body has suggested a slew of measures for improving domestic oilseed and vegetable oil processing industry.
The apex body of solvent extractors has urged the government to raise the duty on crude oil to 20 per cent and refinded oil at 25.7 per cent or atleast 10 per cent on crude oil and 17.5 per cent on refined oil to offset various taxes being paid by local producers.
The oilseed crushing industry is facing tough times. The industry is faced with negative crush margins due to reserve selling by stockists and farmers as well as excessive speculation in the markets. «The factors have made the prices of oilseed too high for the crushers. Also, duty free import of crude vegetable oils contributed to the negative crush margins,» Sethia stated.
In the wake of oil-bearing material like rice bran, copra cake and palm kernel cake attracting 15 per cent import duty, the association feels that the duty may be reduced to zero percent to increase the overall availability of raw material for processing thereby increasing supply for feed industry.
«Oilseeds and pulses both are in short supply and needs equal support. Recently MSP for pulses was raised by 15–30 per cent whereas for oilseed was raised only by 2 to 9 per cent. MSP for oilseeds be raised in line with the pulses to encourage the oilseed production,» he added.
Currently, export of edible oil in consumer packs upto 5 kg subject to the ceiling 10,000 metric tonne (MT) is allowed. The current ceiling is expiring on 31 October, 2010. Upto 7 July 9,598 tonnes have already been exported and hardly 400 tonnes is remains. SEA has once again represented to Ministry of Consumer Affairs, Food and Public Distribution as well as Ministry of Commerce to raise the ceiling for the current year and also review the current policy for exports of edible oil. It has also requested the government to do away with the ceiling and allow export of edible oil in bulk as the conditions under which restrictions were imposed no longer exist.
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