GOVERNMENT POLICY TOOK A TOLL ON IMPORTS OF REFINED PALM OIL

Indian's palm oil imports fell to half in October and November 2019. It happened after the initiation by the government to boost the domestic oil industry. India heavily relies on imports to fulfill its edible oil needs. The government decided to raise the import duty on refined palm oil from Malaysia by 5% to 50% over a period of 180 days.

The decision came by the government in September. The policy took a huge toll on palm oil ....