TAG: edible oil
Government raises import tax on edible oils
India has raised the basic import tax on crude and refined edible oils by 20 percentage points, the government said on Friday, as the world's biggest edible oil importer tries to support local oilseed farmers.The move could lift edible oil prices and damp...
1 month ago
Higher import duties on oils effective September 14 to support farmers
Starting September 14, India will implement higher import duties on crude and refined soybean, sunflower, and palm oil to protect domestic farmers from declining oilseed prices. The latest data from the government reveals that refined oil prices have been...
1 month ago
Govt asks edible oil bodies to maintain MRP till availability under lower customs duty
The Union government has asked edible oil associations to ensure that the MRP of each edible oils such as sunflower oil, soybean oil and mustard oil is maintained till their availability under lower customs duty.The associations “were advised to ensure th...
4 weeks ago
Global price decline in edible oil, new crop to cushion inflationary impact of import duty hike, economists say
The recent hike in import duties on edible oil is unlikely to have a significant impact on domestic inflation. The increase in the basic customs duty on crude soybean, palm and sunflower oil from 0 to 20 per cent, which came into effect from September 14,...
3 weeks ago