Russia raises palm oil import duty

Russia will triple an import tariff for palm oil packed in canisters and other containers of up to 200 kilos for a period of nine months, the government said on Monday. The tariff will go up to 15 percent, but no less than 0.12 euros per kilo, from five percent, the government website www.government.ru said.
The increase is aimed at preventing imports of some vegetable fats and margarine products liable to a 15 percent tariff disguised as packed palm oil.
It will become effective one month after a resolution setting it is officially published, the website said. The publication in the government gazette, Rossiiskaya Gazeta normally takes place within days after the website announcement.
Russia imported 385,230 tonnes of palm oil in 2003/04 marketing year (September to August). The country's main palm oil suppliers are Indonesia and Malaysia.