India taxes Brazilian, Argentinian soybean oil

22.11.2017

India has increased duties on imports of vegetable oils to its highest levels in a decade. The rate imposed by the Indian government hikes from 17.5% to 30%, while the duty refined soybean oil raised from 2o% to 35%.

The new duties harm mostly Argentinian and Brazilian exports, which were nearly US$ 100 per ton more competitive than the locally-produced oil, but it will also hurt Malaysian and Indonesian exports.


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