Govt allows free import of RBD palm oil, palm olein till Dec 31, 2022

The government on Monday extended by one year the free import policy for refined bleached deodorized palm oil, and refined bleached deodorized palm olein to December 31, 2022, but retained a clause that the import is not permitted through any port in Kerala. The Directorate General of Foreign Trade (DGFT) had in June, removed the import restrictions till December 31 this year. “Free import policy of items… is extended for a period up to December 31, 2022,” DGFT said in a notification on Monday.

The announcement comes amid high inflation becoming a cause of concern and the Securities and Exchange Board of India (SEBI) ordering a year-long suspension of futures trading in soybean, soy oil, crude palm oil, wheat, paddy rice, chickpea, green gram, rapeseed, and mustard. SEBI on Monday directed commodity exchanges not to launch futures contracts of these products