# Centre hikes import duty on crude, refined palm oils - The HinduBusinessLine

> India's Finance Ministry raised the import duty on crude palm oil to 44% from 30% and on refined palmolein to 54% from 40%, effective March 1, 2018. Soft oils were left unchanged. The Solvent Extractors' Association welcomed the move but objected to singling out palm oil.

- Date: 2018-03-02 · published 2018-03-02T12:00:00.000Z
- Category: policy · region India · magnitude high
- Page: https://feedsoft.ai/events/10367-centre-hikes-import-duty-on-crude-refined-palm-oils-the-hindubusinessline
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

India is a major importer of vegetable oils, so higher duties on palm oil cut import demand and shift buying toward soft oils. Palm oil prices face bearish pressure while soyoil and other domestic-crush oils gain support.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2018-03-02 | 1 | -2.5% | -3.4 | India, the largest palm oil importer, raised crude palm oil import duty to 44% from 30% and refined to 54% from 40% effective March 1, which curbs import demand and likely triggered the sharp one-day selloff. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-08-18 | [India's refined palm oil imports to fall as duty change makes crude palm cheaper](https://feedsoft.ai/events/69561-india-s-refined-palm-oil-imports-to-fall-as-duty-change-makes-crude-palm-cheaper.md) | +1.5% | +9.4% |
| PALMOIL | 2022-08-25 | [SEA asks Indonesia to ensure stable policy for palm oil exports  - The HinduBusinessLine](https://feedsoft.ai/events/15800-sea-asks-indonesia-to-ensure-stable-policy-for-palm-oil-exports-the.md) | -0.5% | -9.5% |
| PALMOIL | 2017-11-29 | [Slapping duty a quick solution,  not a lasting one - The HinduBusinessLine](https://feedsoft.ai/events/67955-slapping-duty-a-quick-solution-not-a-lasting-one-the-hindubusinessline.md) | -2.5% | -5.4% |
| PALMOIL | 2024-06-20 | [Budget 2024: SEA pins hopes on budgetary support to boost oilseed production  - The HinduBusinessLine](https://feedsoft.ai/events/29845-budget-2024-sea-pins-hopes-on-budgetary-support-to-boost-oilseed-production-the.md) | +0.2% | +1.8% |
| PALMOIL | 2024-06-12 | [Malaysia keeps July crude palm oil export duty at 8% - Markets - Business Recorder](https://feedsoft.ai/events/15637-malaysia-keeps-july-crude-palm-oil-export-duty-at-8-markets-business-recorder.md) | -0.3% | +0.8% |
| SBO | 2017-11-09 | [Import duty talks lift edible oils - The HinduBusinessLine](https://feedsoft.ai/events/68072-import-duty-talks-lift-edible-oils-the-hindubusinessline.md) | -1.8% | -6.0% |
| SBO | 2025-06-26 | [Malaysia mulls raising palm oil share in biodiesel - The HinduBusinessLine](https://feedsoft.ai/events/15553-malaysia-mulls-raising-palm-oil-share-in-biodiesel-the-hindubusinessline.md) | +3.0% | +5.2% |
| SBO | 2024-12-19 | [Indonesia to hike crude palm oil export levy to 10pct](https://feedsoft.ai/events/15595-indonesia-to-hike-crude-palm-oil-export-levy-to-10pct.md) | -0.1% | +9.1% |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/economy/agri-business/centre-hikes-import-duty-on-crude-refined-palm-oils/article22910686.ece

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.