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Palm oil duty cut extension questioned

NEW DELHI: Questioning the government decision to extend 10 per cent duty cut on various palm group of oils till the year end, the oil industry has said this cut would not serve as an incentive to domestic oilseeds growers. "Prices of oils are fairly stable and the harvesting of kharif oilseeds is going to begin. Therefore, the government should not only have refrained from extending the duty cut but should have restored the duty to the earlier levels,'' the Central Organisation for Oil Industry and Trade Executive Director, K. M. L. Chhabra, said.

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