 "India slashes basic import duty on crude palm oil to 15% from 27.5%")
MUMBAI (Reuters) - India slashed the basic import duty on crude palm oil (CPO) to 15% from 27.5% earlier, Finance Minister Nirmala Sitharaman said on Monday.
The basic custom duty on soybean oil and sunflower oil also cut 15% from 35% earlier Sitharaman said in her annual budget presented for 2021/22 financial year.
The government has proposed 17.5% cess on CPO and 20% cess on crude soybean and sunflower oil, she said.
India is the world's biggest importer of vegetable oils.
(Reporting by Rajendra Jadhav, editing by Louise Heavens)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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