Indian OMCs holding off on buying biodiesel until GST situation on palm sterin clears up

July 11, 2017 |

In India, the implementation of the Goods and Services Tax may not have had much impact on ethanol but for biodiesel, the new tax led to the cancelation of biodiesel purchases by oil marketing companies because of the higher price. If the price of palm sterin, the main feedstock for biodiesel in India, is lowered as a result of the GST shift then the OMCs want to see the price of biodiesel also lowered in line with that. So they’re holding off on purchases until the situation gets cleared up.

Print Friendly, PDF & Email

Tags: , ,

Category: Producer News

Thank you for visting the Digest.