Edible oil prices set to soften as China slaps extra 10 pc import duty on US soya
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Edible oil prices are expected to decline in the April-June quarter as China imposes an additional 10% tariff on U.S. soybean imports. This has caused global soya oil prices to drop by $50 per tonne in three days, putting downward pressure on sunflower and palm oil prices as well.
Edible oil prices are set to soften in the April-June quarter as China has imposed an additional tariff of 10% over and above the 25% import duty on soya bean imports from the US.
The move has led to a decline of $50 per tonne in global soya oil prices in the past three days and has put pressure on other oils such as sunflower and palm oil, whose prices have dropped too.
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Source : The Economic Times
