Pettah coconut oil importers say that there is a plan to launch a racket to mix palm oil with coconut oil.
Coconut oil importers say that some businessmen are preparing to make huge profits during the festive season by importing palm oil into the country under reduced import duty and mixing it with coconut oil.
The importers say that the President has intervened to increase the import duty on palm oil due to the issuance of substandard coconut oil during previous weeks and that there are plans to reduce that tax than coconut oil again.
An import duty of Rs. 225 per kilo on palm oil and Rs. 125 per kilo on coconut oil has been imposed.
Coconut oil importers say that if the tax on palm oil is reduced compared to coconut oil, coconut oil will inevitably be sold mixed with palm oil.
