The gap between duty of raw-refined goods in imported edible oils has widened.

- Imports of refined edible oils from overseas increase in such a situation, a blow to domestic refineries

The recent trend in the edible oil market in the country has seen a rapid reversal. The mantra of self-reliance is spreading in the country and as a result, the government has started efforts to increase the cultivation of oilseeds in the country and reduce the import of edible oils. Market players are now keeping a close eye on how far such efforts are heading. Meanwhile, prices of various edible oils have been rising in the country recently and the government is keeping an eye on it. The government is also concerned about this issue and has been seen issuing new fatwas on Wednesday to control price rise. Recently the government has raised the weapon of stock limitation. However, according to market insiders, in fact the prices of edible oils in the world market have risen significantly recently and the effect has been seen at home. Palm oil, soyoil oil, sunflower oil vs. domestic oil market boom. Import cost of imported edible oils has gone up. The rise in the dollar against the rupee and weakening of the rupee in the entire currency market has also led to an increase in the cost of importing edible oils at home. The prices of imported edible oils have risen in the country's markets due to rising import costs. Experts also said that despite rising domestic prices, import costs have been on the rise. According to these sources, the inflows have been higher than the market price and the domestic market inflows have remained strong. According to world market analysts, the rise in crude oil prices to a seven-year high has had a positive effect on global edible oil prices. With the rise of crude oil, the extraction of edible oils for biofuels is increasing. And prices are going up. Prices of domestically imported edible oils are also getting warmer and as a result, prices of domestic edible oils are also rising. Thus the main reason for the recent boom in the edible oil market is the world market and the government has no control over the world market. In such a scenario, the government has been issuing new orders on Wednesdays to curb the domestic boom, but the market has not given a damn recently.

When the government recently made changes in the import duty on edible oils, the gap between the domestic import of crude palm oil CPO and the import duty of refined palm oil has narrowed. Why is the government adopting such a strange policy? Such a question has been asked in the market. However, since then, the government has tried to rectify the situation, but such an attempt has proved futile, market insiders said. The government has announced to reduce the Agricultural Infrastructure Development Cess (AIDC) on crude palm oil CPO from 5.50 per cent to 5 per cent. As a result, the gap between the import duty on crude palm oil and refined palm oil in the country has narrowed. However, the move is still inadequate and market experts say there is still a need to widen the duty gap. With the government reducing the agri cess on crude palm oil CPOs, the gap between import duty on crude palm oil and refined palm oil in the country has widened to 8.5 per cent. The new rates of duty have been fixed till September 30. Crude edible oils and ref. The gap between the import duty on edible oils, which has risen to 8.5 per cent, needs to be at least 11 per cent, say oil industry experts. The market is of the opinion that it is necessary to reduce the aggression on crude palm oil CPO to 2.5 per cent. Crores of rupees have been invested in refineries that refine domestic edible oils and if the import of refined edible oils in the country increases, such refineries may close down. In fact RBD palmolin and Rifa. Experts say it is necessary to put palm oil imports on the restricted list. Meanwhile, the central government has stepped up pressure on state governments to enforce stock limits on oilseeds. Such stock limit has been fixed till June 30. However, given the current situation, the possibility of higher edible oil prices in the country till May is also being discussed in the market.