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Edible oil import likely to fall first time in 7 years on duty hike
India's edible oil import is estimated to register a fall this oil year, first time in seven years. Atul Chaturvedi, CEO, Adani Agri Business said that increase in import duty has played an important role, and has improved the viability of processing and crushing of edible oil in India. Due to the duty hike, growth in consumption has also slowed down, which means a lower requirement, and therefore decrease in import.
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