Govt suspends 39 import licenses for refined palmolein after surge in duty-free imports in Nepal, Bangladesh: Report

India, the world’s biggest importer of edible oil, put refined palm oil and palmolein on a list of restricted items on 8 January, although New Delhi later issued licences to import more than 1.1 million tonnes of refined palmolein.

Reuters May 12, 2020 08:48:47 IST
Govt suspends 39 import licenses for refined palmolein after surge in duty-free imports in Nepal, Bangladesh: Report

New Delhi: India has suspended 39 licenses to import refined palm oil after a surge in duty-free imports from neighbouring countries such as Nepal and Bangladesh which are not key producers of palm oil, government and trade sources told Reuters.

“All these 39 licences for import of refined palm oil will be immediately put under suspension,” a government circular seen by Reuters on Monday said.

India, the world’s biggest importer of edible oil, put refined palm oil and palmolein on a list of restricted items on 8 January, although New Delhi later issued licences to import more than 1.1 million tonnes of refined palmolein.

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