Farm panel member sees sharp hike in CPO, refined oil import

The government may raise the import duty on edible oils and export incentives on soymeal to push domestic prices of soybean above minimum support price. It was suggested to raise import duty on refined edible oils to 45% and on crude palm oil to 35%. Also discussed to double the incentive on soymeal exports to 10% from 5%. Both the steps help push soybean prices above the minimum support price.