Govt reduces import duty to rein in prices of edible oils

The government has reduced import duty on edible oils with immediate effect, which may cool down the prices of these key kitchen items. According to a finance ministry notification, the base import duty on crude palm oil has been reduced to 2.5% from 10%, while the tax on crude soyaoil and crude sunflower oil has been reduced to 2.5% from 7.5%.

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