The Solvent Extractors Association has urged the Centre to increase import duty on crude edible oil by over three-fold to 25 per cent from 7.5 per cent and that on refined oil to 45 per cent from 15 per cent as excessive imports is hampering the industry and farmers’ interest.
In a memorandum to the Government, the Association has said edible oil imports has touched 100 lakh tonnes in the first nine months oil year till July against 80 lakh tonnes (lt) in the same period last year.
In next three months, shipments are expected to touch an unprecedented level of 140 lt valued at ₹65,000 crore ($10 billion), it said. The nominal duty difference of 7.5 per cent between the crude and refined oil has made many oil mills stop crushing oilseeds supplied farmers.