India removes restriction on import of refined palm oil

NEW DELHI (June 30): India will freely allow the import of RBD palm olein, almost 18 months after the Government put refined palm oil products under the restricted category.

According to a notification on Wednesday by the Commerce Ministry’s Directorate General of Foreign Trade (DGFT), imports of RBD palm olein (refined, bleached and deodorised form of palm oil) will be allowed without restrictions until the end of December this year.

RBD palm olein can be imported through all ports except those in the southern State of Kerala.

India’s RBD palm olein imports from Malaysia had become negligible since the government in January last year disallowed refined palm oil imports without special permits.

The import policy change comes amid high edible oil prices in the country.

This follows India’s reduction of basic import duty on crude palm oil (CPO) to 10% from 15% a day earlier.