Vegetable Oil Tariff Value Raised Again
For third time in last one month - Ministry of Finance has raised tariff value
of vegetable oils. Tariff value is the base price on which Customs authorities
work out import duty of various vegetable oils.
The increase is in the range of US Dollar 10 per Metric Tonne (MT) on crude soyabean oil and between USD 16 - 24 per MT on various palm oils (crude palm oil, refined palm oil,
refined palmolein). The increased tariff value will make landed cost of these oils
higher by between Rs 450 and Rs 900 a MT.
Oct 15' 2005
