Ukraine to lose the major importer of sunflower oil?
For many years India is known as a major importer of Ukrainian sunflower oil. Herewith, some changes are coming. Not only import duties for oilseeds and oilseed meals can be changed in India. Commission for Agriculture Cost and Prices (CACP) in their recent report had strongly recommended to increase the duty on imports of crude vegetable oils (including sunflower oil) in India from 0% to 12.5%, and on imports of refined veg oils - from 7.5% to 15%, in order to correct the inverted customs duty structure. Of course, the changes are at the discussion stage in various departments of the Government of India, and may become announced in next Union Budget, to be presented on 28th February 2013.
Previously, the Ministry of Agriculture opposed such moves. This the first time, the CACP, working under the Ministry of Agriculture, has come out with this recommendation. Other Ministries like Commerce and Food are favorable for such imports.
Why the Indian government did start consideration of duties regulations, and what can be the consequences of such changes for the fat-and-oil industry in India and Ukraine, to be covered in the presentation of Mr. Vivek Pathak, Director of Trading and Business Development of Athena Tradewinds Pvt. LTD, new but fast growing player on the market of India.
You can become acquainted with the program of the conference AOCS Oils and Fats World Market Update 2013 and the courses, and fill in the application form for participation in the exhibition at our website.
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