The high price of olive oil
in the country is due to two factors: stiff
government import duties and “a lack of
diversity in choosing olive oil producing markets,”
The Hindu Business Line quotes Habib
Essid, Executive Director of the International
Olive Oil Council (IOOC), as saying.
Presently in India to carry out his mandate
of promoting the use of olive oil in new markets
across the world, he held meetings with top
officials in the Ministry of Agriculture and
Food Processing in New Delhi.
Essid said India consumed barely 2,000 tonnes
of olive oil a year, “a quantity that
is too low for a country with India’s
population.”
The high cost is a big deterrent in consumption
but high import duties are responsible for this.
“Those who import pay 50 per cent duty
for packaged olive oil and 80 per cent for bulk.
These tariffs are huge and make the price extremely
high,” Essid pointed out.
For the complete story, go to: http://www.thehindubusinessline.com
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