24 Feb

Scrap import duty on olive oil in India

The Indian Olive Association has urged the Center to abolish the 45 per cent Customs duty on olive oil.

“The import duty makes olive oil prohibitively expensive in India,” said a press release from V.N. Dalmi, President of the association. Run-up to Budget 2008-09

It pointed out that currently a 45 per cent Customs duty was imposed on virgin oil and 40 per cent on refined and pomace olive oil. “This rate is very high considered that non-olive producing countries such as China and Taiwan only impose 10 and 8 per cent import duty,” he said.

Considering the numerous health benefits of olive oil, the Centre should scrap the import duty, making it available to a much larger section of the population.

He added that at present one litre of extra virgin olive oil costs Rs 720 (including a 45 per cent import duty). If the duty is reduced to 16 per cent, the price could be brought down to Rs 600, and if the duty is scrapped altogether, it can be retailed at Rs 520 a litre.

[Source] Click here

2 Responses to “Scrap import duty on olive oil in India”

  1. sanjay lotankar Says:

    Can you please advise import custom duty of olive oil ph: 022-30400326 OR

    can you please advise phone # of Association in India

  2. deepak Says:

    1) what will be the duty on olive oil if imported from europe ?
    2) what document will i require to import olive oil in india ?
    Pls reply as soon as possible.

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