In India, Import duties on all crude and refined edible or plant oils were hiked to 35% and 45%, respectively, as of June 14, 2018, while the import tariff on olive oil was raised to 40%. The import duty on crude and refined palm oil has been revised to 37.5% and 45%, respectively. With effect from January 1, 2020, The import policy for refined palm oil has been changed from 'free' to ‘restricted' as of January 8, 2020. The import duty on crude palm oil has been reduced from 37.5% to 27.5% with effect from November 27, 2020. Export of edible or plant oil was banned w.e.f. 17.03.2008 to ensure the availability of edible oil in the Indian country, and it was extended from time to time.

According to the report, Helpful Policies on Plant Oil Usage in Various Countries is one of the primary growth factors for the market. Increasing Awareness among the Consumers Related to Health is also expected to contribute significantly to the Plant Oil market growth. Overall, Food applications of Plant Oil, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Distribution channel, such as Hypermarket/Supermarket, is boosting the Plant Oil market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

AMA’s Analyst on the Global Plant Oil market identified that the demand is rising in many different parts of the world as "Globally High Demand and Market high Market Potential ". Furthermore, some recent industry insights like "In 2021, Cargill Incorporated has purchased an edible oil refinery in Nellore, India, and has invested USD 35 million in the purchase and improvement of the facility, which would increase edible oil production volume and allow the business to expand its existing supply chain to fulfill consumer demands. and In 2021, Bunge Loders Croklaan extended its oils and fats portfolio to suit European demand for organic oils and fats, including sunflower, rapeseed, soy, palm, shea, and coconut." is constantly making the industry dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Plant Oil market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2022 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Plant Oil market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Have a look at complete Table of Content: Global Plant Oil Market Study

Data Triangulation
The overall Plant Oil market size is calculated using market estimation process, the Plant Oil market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Plant Oil market size has been validated using both top-down and bottom-up approaches.