Date:14/03/2005 URL: http://www.thehindubusinessline.com/2005/03/14/stories/2005031400310700.htm

Back Plea to hike import duty on vanaspati

Our Bureau

New Delhi , March 13

OIL traders have demanded a hike in import duty on vanaspati from its present level of 30 per cent.

The President of Central Organisation for Oil Industry and Trade (COOIT), Mr Sandeep Bajoria, said the low import duty has resulted in losses to the domestic industry. He was speaking on the occasion of 26th rabi oil and oilseeds seminar organised by COOIT in the Capital on Sunday.

Expressing concerns about the oilseeds production in the country, Mr Bajoria said though oilseeds sowing area has increased from 190 lakh hectares in 1986 to 260 lakh hectares at present, considering a huge increase in the population, the production remains insufficient. Oilseeds productivity, though has gone up to 1,000 from 570 kg per hectare, was still way-below the global level.

The seminar was inaugurated by Mr Mangat Ram Singhal, Minister of Industries of Delhi Government, while Mr T. Haque, Chairman of Costs and Price Commission, was the chief guest. Mr R.S. Pandey Secretary, Oilseeds and Pulses Technical Mission, Mr Karnail Singh, Joint Secretary, Food Ministry, and Mr Alok Rajan, Managing Director, NAFED, were guests of honour.