India cuts import duty on crude palm oil and crude soybean oil to 5%

Published Sep 23, 04:38 PM UTC

The Indian government has ordered a reduction in the import tariff on crude palm oil and crude soybean oil from 10% to 5%. This policy change, reported by tradealpha, lowers the cost of importing these key edible oils into India, which is one of the world's largest importers of vegetable oils. The duty cut is expected to make these commodities more affordable for domestic refiners and potentially lower consumer prices for cooking oils. The decision reflects India's efforts to manage domestic inflation and ensure adequate supply of edible oils. No further details on the effective date or duration of the reduced tariff were provided in the source.

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