Financial Daily from THE HINDU group of publications Thursday, Jul 22, 2004 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil 'Retain carotenoid value norms for palm oil imports' Our Bureau
Mumbai , July 21 KOLKATA-based All-India Oils and Seeds Foreign Trade Association has urged the Government not to change the specification relating to carotenoid value for the palm group of oils and has suggested uniform rate of customs duty be levied on all types of palm oil. Drawing technical support from the literature of Codex Alimentarius, the international alliance that prescribes food quality standards, the association has said that in addition to carotenoid value, odour and taste should be considered while distinguishing crude and refined oils. At present, customs duty on crude oils of the palm group is 65 per cent (subject to carotenoid value condition) and for others 75 per cent. For crude palm to attract 65 per cent duty, the carotenoid content should be not less than 500 parts per million (ppm). The stipulation was imposed in August 2003 in order to prevent degraded versions of oils coming in to take advantage of lower duty. Most of the consignments of crude palm oil and crude palmolein show values of less than 500 ppm, making them ineligible for lower rate of duty. Last week, a group of large importers camped in New Delhi to lobby the Government for change in the carotenoid specification.
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