Request for Extension of Timelines on the Recent Import Duty Hike on Edible Oils
Request for Extension of Timelines on the Recent Import Duty Hike on Edible Oils
September 13, 2024
RAI expressed concerns over the recent 20% import duty hike on edible oils, highlighting its negative impact on the food processing and QSR sectors due to limited domestic production. RAI requested the Ministry of Food Processing Industries for a 3-year extension to allow domestic oil capacity development, mitigating supply shortages and inflation risks.