‘India may relax oilseeds import next year’

by Dave

Opportunity for Argentina in sunflower, soya etc.

via SIFY’
The Union Government may relax import of oilseeds in 2009 to take the heat out of an “overheated domestic” oil and oilseeds market, according to Dorab Mistry, Director, Godrej International Ltd.

Improved supply

Presenting a paper on “Fundamental Approach to Price Forecasting 2008” at the Globoil International in Dubai on Monday, Mistry said cooking oil prices were likely to rise and rule firm, despite improved supply.

Currently, oilseed imports are not taking place due to strict phyto-sanitary conditions imposed by the Centre and a high customs duty of 30 per cent. Crude or unrefined vegetable oils’ imports are allowed duty-free, while refined vegetable oil imports are permitted at 7.5 per cent duty.