The Hindu Business Line : Sopa opposes palm oil duty cut

CHENNAI: The Soyabean Processors Assoication of India (Sopa) has opposed any move to cut the Customs duty on crude palm oil. Mr Rajesh Agrawal, President, Sopa, in a letter to the Union Agriculture Minister, Mr Sharad Pawar, said any such move would be against the overall interest of the oilseed farmers as well as the trade and industry.

With the soyabean crop arriving in the market and the farmers fetching rates above the minimum support price (MSP), any wrong signal would hit the crop in the market and farmers wouldn't get remunerative prices, he said.

The likely effect of the reduction in the duty will affect the prices of the end products and consequently, the industry would not be able to pay a remunerative price to the farmer for his produce, Mr Agrawal said.

Sopa would like to sound a note of caution to the Centre that any proposal for reduction of duty on import of CPO would neither be in the interest of the farmers nor the trade and industry, he said adding that in the long run, it would wean farmers away from oilseed cultivation.

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