Import Duty On Edible Oil

India cuts crude edible oil duty to 10% to control prices, aid demand

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

India slashes import duty on crude edible oils to curb rising food prices

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

Govt asks oil firms not to hike retail prices, 3 MT of edible oil available

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

Govt imposes 50% export duty on molasses; extends lower duty on edible oils

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

Centre reduces import duty on sunflower oil, soyabean oil to 12.5%

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

India struggles to contain vegoil prices as Indonesia restricts exports

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

Malaysia to study impact of palm oil import boycott by Indian traders

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

Edible oil importers advised to refrain from palm oil import 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

Country's biggest tax increase in a decade may cut palm oil imports

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

Centre doubles import duty on crude edible oil

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

Edible oil to become costlier by 4-5% on import duty hike

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