Centre reduces Basic Custom duty (BCD) on major imported Crude edible Oils from 20% to 10%

Centre has reduced the Basic Customs Duty (BCD) on crude edible oils namely crude sunflower, soybean, and palm oils has been reduced from 20% to 10% resulting in the import duty differential between crude and refined edible oils from 8.75% to 19.25%.

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This adjustment aims to address the escalating edible oil prices resulting from the September 2024 duty hike and concurrent increases in international market prices. An advisory has been issued to edible oil associations and industry stakeholders to ensure that the full benefit of the reduced duty is passed on to consumers.

19.25% duty differential between crude and refined oils helps to encourage domestic refining capacity utilization and reduce imports of refined oils.