Kuala Lumpur, Feb 27 : Malaysian palm oil futures ended little changed andbarely traded on Tuesday on fears that India might again raise import taxesfor edible oils, traders said.India is to unveil its 2001 Budget on Wednesday and speculation in KualaLumpur is that foreign vegetable oils may get another hammering from importduties.
Analysts in India said three tax rises since last year have failed to stem aflood of cheap oil imports and it was unlikely a fourth round would takeplace.
"At the least, I believe the Indian government will try and restructure itsdomestic oils industry and possibly offer some kind of incentives forfarmers there to compete against foreign oils," said a local trader of palmoil.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
