Friday, October 17, 2008

Breaking News-RTRS-Indian traders call for import tax on edible oil

NEW DELHI, Oct 16 (Reuters) - India's vegetable oil traders have urged the government to impose an import tax and allow futures trading in soyoil following a slump in prices, a leading trade body said on Thursday.
The Solvent Extractors' Association of India (SEA) said in a letter to the farm, finance and trade ministers the government should impose a 30 percent import duty on crude palm oil, 37.5 percent on RBD palmolein and 20 percent on crude soybean oil.