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SEA demands slashing import duty on oilseeds to 5-10%

08 Jan 2016 Evaluate

Solvent Extractors’ Association of India (SEA) has appealed before the central government for slashing the import duty of high oil content oilseeds like rapeseed/mustard and sunflower seed from current 30 percent to 5-10 percent.

This step will help boost edible oil supplies to local markets and oilmeal crushers. The oilseeds imports will not have any adverse impact on the farmers as they are protected with an assured Minimum Support Price (MSP) by the government.

India exports oilmeal to countries including South Korea, Thailand, Vietnam, Taiwan, Indonesia, Iran and European nations. The country’s oilmeal exports declined by 48% to 963,442 tonnes in the April-December of this fiscal from 18,62,283 tonnes in the year ago period.


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