According to market operators, the government of India has decided to reduce duty on import of sunflower seeds into the country from the current 30% to 10%. It is planned that the new tariff will be valid from April to September.
Currently, the relevant document is in the process of signing and will enter into force on 1 April
Recall that India is the world's largest importer of vegetable oils, particularly sunflower oil. Thus, the reduction of the duty on foreign purchases of sunflower seeds can lead to reduction in the supply of product processing in the country, which in the current my are forecasted by analysts Oil World at a record 1.85 million tons versus 1.53 million tons a season earlier.
In turn, this decision may contribute to the increase of supply in India sunflower from the black sea countries, which this season actively exporting oil. So, for the first half of 2016/17 season (September-February) Ukraine exported to foreign markets 149,7 thousand tons of sunflower seeds, Russia - 117,9 thousand tons.
Photo: kultura-prozvetania.blogspot.de
Translated by service "Yandex.Translation"
