Suparjya Swain 
BHUBANESWAR: In a recent move aimed at supporting the agricultural sector, the Indian government has announced a significant increase in customs duties on crude palm oil and refined sunflower oil. According to a finance ministry notification, the basic customs duty on crude palm oil has been raised to 20%, while the duty on refined sunflower oil has been increased to 32.5%. This decision is expected to have a substantial positive impact on farmers’ incomes.
A senior government official highlighted that this hike in customs duties will provide a major boost to farmers by increasing their income. The adjustment is part of a broader strategy to ensure that domestic oilseed producers benefit from higher prices, which can result from reduced competition from imported oils.
In addition to the customs duty adjustments, the government has also decided to remove the minimum export price (MEP) on onions and reduce the export duty. These measures are anticipated to further aid farmers by allowing them to access better prices for their produce in the international market.
The recent finance ministry notification reflects a shift in policy to support local agricultural producers by making imported oils more expensive, thereby encouraging consumption of domestically produced alternatives. The changes are expected to create a more favorable market environment for Indian farmers, enhancing their earnings and supporting the agricultural sector’s growth.
These steps align with the government’s ongoing efforts to boost agricultural productivity and ensure better income for farmers, while also addressing concerns related to domestic oilseed production and export markets.
