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Article: Cancellation of vegetable oil export rebates will have limited impact on domestic prices - expert.
- Article from:
- China Business News
- Article date:
- June 4, 2008
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Cancellation of vegetable oil export rebates will have limited impact on domestic prices - expert
Shanghai. June 4. INTERFAX-CHINA - China will cancel export rebates for 36 types of vegetable oils from June 13 to limit exports, but according to industry experts, the move will have a limited impact on domestic vegetable oil prices as China is a net vegetable oil importer.
The State Administration of Taxation (SAT) said yesterday it will cancel export rebates for soy oil, peanut oil, corn oil, palm oil, olive oil and rapeseed oil. The move follows a measure last year that cut the export rebate for vegetable oils to 5 percent as of July 1, 2007.
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