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According to Indian media reports, the Indian government cancelled basic tariffs on crude oil such as palm oil, sunflower oil and soybean oil on October 13, as well as tariffs on refined edible oils
.
"The basic tariffs on sunflower, soybean, palm olein and palm oil refined varieties have been reduced from 32.
5% to 17.
5%", the Tribune reported on the 13th
.
.
"The basic tariffs on sunflower, soybean, palm olein and palm oil refined varieties have been reduced from 32.
5% to 17.
5%", the Tribune reported on the 13th
.
According to reports, affected by global factors and tight local supply, the price of edible oil in the Indian retail market has risen sharply by 46.
15% in the past year
.
According to media reports, the Indian government has taken measures to reduce the retail price of cooking oil and provide relief to consumers during the holiday season
.
15% in the past year
.
According to media reports, the Indian government has taken measures to reduce the retail price of cooking oil and provide relief to consumers during the holiday season
.
Although the Indian government allows Nepalese products to enter duty-free under the South Asian Free Trade Area (SAFTA) arrangement, it imposes high import tariffs on products from third countries
.
In recent years, Nepal has been using edible oil exports to minimize its trade deficit
.
.
In recent years, Nepal has been using edible oil exports to minimize its trade deficit
.
The records of the Nepalese Customs Department show that in 2020/21, Nepal exported goods worth 141.
12 billion rupees, of which edible oil exports were 55.
95 billion rupees, which accounted for the largest proportion
.
In 2018/19, palm oil exports to India alone exceeded 100 billion rupees, and in 2019/20, palm oil exports soared to more than 18 billion rupees
.
12 billion rupees, of which edible oil exports were 55.
95 billion rupees, which accounted for the largest proportion
.
In 2018/19, palm oil exports to India alone exceeded 100 billion rupees, and in 2019/20, palm oil exports soared to more than 18 billion rupees
.
As the SAFTA agreement imposes zero tariffs on commodities exported from underdeveloped countries such as Nepal, Nepalese traders have been importing crude palm oil from other countries with the lowest tariffs, and then exporting finished products to India with zero tariffs
.
However, traders said that the recent move by the Indian government may affect the exports of Nepalese products, as domestic products must now compete with similar third-country products in terms of prices
.
.
However, traders said that the recent move by the Indian government may affect the exports of Nepalese products, as domestic products must now compete with similar third-country products in terms of prices
.
