Local recyclers find it difficult to work in conditions of severe price competition from cheap imported vegetable oils from Indonesia, Malaysia, Brazil and Argentina, which reduces the demand for the Indian rape. In spite of the established government minimum purchase prices, the domestic prices of rapeseed and soy have significantly lost in value over the past few weeks.

In August, the government has increased import duty to 10%. The current duty rate on crude palm oil is 15% and on refined – 25%. Fees may be increased by another 10% each. For the production of soybean meal, the government can assign grants because of its high price in comparison with the meals from South America.

Photo: oil-club.ru