Amid the industry’s demand for a hike in import duty of edible oils, the Centre held a meeting here comprising officials from the Ministries of Commerce, Food and Consumer Affairs, and Agriculture, and the Revenue Department.
Sources said that the Ministries are in favour of the hike to protect domestic oilseeds farmers and industry and the matter will be discussed by the Finance Ministry and a call is likely to be taken soon. The industry has pitched for raising the levy on crude edible oil to 25 per cent from 7.5 per cent and to 45 per cent from 15 per cent on refined varieties.
“The meeting was held in the presence of the Revenue Secretary Hasmukh Adhia, who was apprised of the situation. There will be further deliberation before a decision can be taken,” said a senior Food Ministry official. Foreign purchases are likely to increase to 14 million tonnes (mt) in the current oil year (November-October) from 11.6 mt last year. Domestic demand is pegged at 11.9 mt while local production is estimated at between 6 and 6.5 mt.