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India Cuts Import Tax on Crude Edible Oils to Help Reduce Food Price
Hindustan Times Gurugram
|May 31, 2025
India halved the basic import tax on crude edible oils to 10% on Friday, the government said, as the world's biggest vegetable oil importer tries to bring down food prices and help the local refining industry.
MUMBAI:
The customs duty applies to crude palm oil, crude soyoil and crude sunflower oil.
It will effectively bring down the total import duty on the three oils to 16.5% from earlier 27.5% as they are also subject to India's Agriculture Infrastructure and Development Cess and Social Welfare Surcharge.
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