ANNOUNCEMENT 17 Sep 2015In September 2015, the government of India announced a change in import duties.
NUMBER OF INTERVENTIONS
Notification No. 46/2015-Customs
On 17 September 2015, the Indian Ministry of Finance through Notification No. 46/2015-Customs increased the import duty on crude edible oil from 7.5% to 12.5% and on refined edible oil from 15% to 20%. The tariff hike comes as imports of cheaper oil have increased and the government is concerned about creating a level field for more expensive domestic crops.
On 23 September 2016, the import duty on palm oil under HS 1511 was reduced from 12.5% to 7.5% for crude palm oil of edible grade, and from 20% to 15% for refined palm oil of edible grade (see related measure).
These duties were last increased on 24 December 2014 (see related measure).