Centre Reduces Customs Duty on Crude Edible Oils to Ease Market Prices

Basic Customs Duty Reduced on Imported Crude Edible Oils From 20% to 10%

Basic Customs Duty Reduced on Imported Crude Edible Oils From 20% to 10% The central government has reduced the Basic Customs Duty (BCD) on some crude edible oils, including crude sunflower oil, soybean oil, and palm oil, from 20% to 10%. This change increases the difference in import duty between crude and refined edible oils […]

Centre Cuts Import Duty on Major Crude Edible Oils from 20% to 10%

The government has reduced the import duty on crude sunflower, soybean, and palm oils from 20% to 10% to lower retail prices and combat inflation. This decision aims to support domestic refiners while ensuring more affordable edible oils for consumers.

Centre reduces customs duty on crude edible oils to ease market prices

New Delhi: The Centre has reduced the basic customs duty on crude edible oils, including crude sunflower, soybean, and palm oils, from 20 per cent to 10 per cent to bring down prices in the local market, according to an official statement issued on Wednesday.  The reduction in customs duty has also resulted in the import duty differential between crude and refined edible oils increasing from 8.75 per cent to 19.25 per cent, which will help to en…