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INDIAN EDIBLE OIL INDUSTRY HAILS IMPORT DUTY HIKE ON VANASPATI.
MUMBAI, March 1 Asia Pulse - The edible oil industry has lauded the Union Budget, especially the government's decision to hike the vanaspati import duties from 30 per cent to 80 per cent.
"We compliment the budget for safeguarding the domestic vanaspati industry by raising the import duties and maintaining status quo on the import duties on edible oil," the Solvent Extractors Association of India (SEA) Executive Director B V Mehta said.
However, Mehta was disappointed that the government took no measures to curb the import of vanaspati from Sri Lanka where duties are zero per cent.
He pointed out that no incentives were extended to the industry for its oilseed development programmes.
"India imports 5,000,000 tonnes of edible ...
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