The Cabinet Committee on Economic Affairs (CCEA) has given its consent to defreeze the tariff value on imported RBD palmolein from $484 per tone and align it with the current international prices. CCEA has approved it after the proposal for the same was put forth by Ministry of Consumer Affairs, Food & Public Distribution.
For about six years the tariff value on imported RBD palmolein has remained unchanged. Due to this the effective rate comes out at about 3.6% on current prices despite import duty on refined oil hovering at 7.5%. Indonesia remains the largest exporter of crude palm oil (CPO) to India and in September 2011, it increased export duty on CPO to 16.5% from 15% earlier and simultaneously reduced export duty on refined palmolein from 15% to 8%, which further affected the domestic refining industry.
During November 2011 to April 2012, about 9.19 lakh tonnes of RBD refined palmolein was imported, an increase of 88.70% compared to 4.87 lakh tonnes during corresponding period in previous year. Besides, imports of CPO increased marginally by 14.80% to 24.93 lakh tonnes compared to 21.72 lakh tonnes.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: