Rajkot: With rain that raises a lot of market prospects flooded with grain oil such as peanuts and cotton, Gujarat oil wants the government to increase import duties on oil and impose restrictions on improved palmolin oil imports.
Millers are afraid that sustainable vegetable oil imports will have a negative impact on domestic trade.
Oil Edible State Gujarat and the Association of Oil Seeds (GSeoosa) on Friday discussed the letter to Prime Minister Narendra Modi which enhanced their concerns.
With oil prices that can be eaten about the roof, the central government has reduced import duties on oil palm, soybeans and sunflower oil twice in 2021.
The step was taken to bring oil prices that could be eaten under control.
The previous piece of assignment was announced this month.
In June the government also issued restrictions on imported palm oil imports which were refined until December 31.
India imports edible oil to meet 60% of its needs.
Palmolin oil is widely used for cooking purposes in restaurants and making ‘namkeen’.
The availability of imported vegetable oil at low prices puts pressure on domestic producers.
On the other hand, if the price difference between imported oil and land land and cotton oil is not far from mass consumers, such as restaurant owners, prefer previous categories.
In his letter to PM, Gseoosa asked to raise import duties.
“We really understand that this is a political decision (to reduce import duties) and do not want to be taken by the government.
But now, when very large oil plants will regard the market, it is necessary to increase the duties of vegetable oil,” said the letter.
“Import of fine palm oil which is not limited is also detrimental to the domestic refinery business used to import palm oil.
The rain in September has changed the picture of the plant and we expect good peanut plants and cotton,” said Samir Shah, said the president of Gseoosa.
Miller oil also hopes that the market price of peanuts will remain low on minimum support prices.
The government will buy around 33% of plants but the rest will enter the market directly.