Import Duty On Edible Oil

Edible oil industry body IVPA expects retail prices of cooking oils to come down following the government's decision to cut import duties on soyabean, palm and sunflower oils. India meets around 60 per cent of its total edible oil requirements through imports. On Wednesday, the government reduced the basic customs duty (BCD) on crude sunflower oil from 10 per cent to nil. The BCD on refined sunflower oil has been trimmed from 32.5 per cent to 22.5 per cent. The BCD on crude soybean oil and palm oil has been slashed from 10 per cent to 5 per cent, and on refined soybean oil and palm oil from 32.5 per cent to 27.5 per cent. Sudhakar Desai, President, Indian Vegetable Oil Producers' Association (IVPA), said the decision to reduce customs duties on specific edible-oil imports comes at an important juncture, particularly with the festive season approaching. "Lower import duties should improve the landed costs of imported edible oils, which can provide some reduction in consumer prices,

The Indian Vegetable Oil Producers' Association (IVPA) on Monday called on the government to take steps against an "unprecedented surge" in duty-free refined edible oil imports from Nepal under the South Asian Free Trade Area (SAFTA) framework. Imports from Nepal jumped more than 17-fold in two years, rising to over 804,000 tonnes in 2025 from 47,295 tonnes in 2023, the industry body said in a statement, adding that volumes were on track to reach 1 million tonnes annually, making Nepal one of India's largest suppliers of refined edible oils. IVPA said the increase marked a significant structural shift in India's edible oil trade that required policy attention to keep trade, tariff and domestic value-addition goals aligned. "India has consistently championed regional economic cooperation and remains fully committed to the objectives of the SAFTA Agreement," IVPA President Sudhakar Desai said, adding that the scale of the duty-free imports called for a policy review to protect the ...

Soybean processors say it will hurt oilseed growers, other say will push up domestic refining

New Delhi halved the basic customs duty on crude palm oil, crude soyoil and crude sunflower oil to 10% from earlier 20%, the government said in a notification seen by Reuters

The government has asked edible oil processors not to hike retail prices following recent increase in import duties, as there is enough stock of cooking oils that were shipped at a lower duty. The food ministry said the stocks imported at lower duties would easily last 45-50 days, and therefore the processors should refrain from increasing maximum retail prices (MRP). Last week, the Centre implemented an increase in the basic customs duty on various edible oils to support domestic oilseed prices. Effective September 14, 2024, the basic customs duty on crude soyabean oil, crude palm oil, and crude sunflower oil has been raised to 20 per cent from nil, making the effective duty on crude oils to 27.5 per cent. Additionally, the basic customs duty on refined palm oil, refined sunflower oil, and refined soyabean oil has been increased from 12.5 per cent to 32.5 per cent, making the effective duty on refined oils to 35.75 per cent. On Tuesday, Food Secretary Sanjeev Chopra chaired a mee

Move seeks to ensure adequate quantities for ethanol blending and keep inflation in check

The step is consistent with the government's intent to curb the rise in edible oil prices in the country

Mindful of an electorate that is highly sensitive to food price inflation, India's government tried to rein in domestic prices by reducing import taxes

On Monday, the Solvent Extractors' Association of India (SEAI) asked its members to stop buying palm oil from Malaysia

Sources said India is looking for options to reduce import from Malaysia in a retaliatory action against PM Mahathir Bin Mohamad's recent call in the UN on India's abrogation of Article 370 in J&K

India raised its import tax on crude palm oil to 30 per cent from 15 per cent, while the duty for refined palm oil has been raised to 40 per cent from 25 per cent

Prices may rise Rs 5-6 per kg, traders see no big drop in imports

Industry welcomes move, says will make domestic edible oilseed extraction and refining competitive