Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

India Cuts Basic Import Duty On Edible Oils

The government has proposed 17.5% cess on CPO and 20% cess on crude soybean and sunflower oil

Photo Credit :

1599448218_gpB3Qn_2020_09_07T022420Z_1_LYNXMPEG8602C_RTROPTP_4_NIGERIA_OIL.JPG

India slashed the basic import duty on crude palm oil (CPO) to 15% from 27.5% earlier, Finance Minister Nirmala Sitharaman said on Monday.

The basic custom duty on soybean oil and sunflower oil also cut 15% from 35% earlier Sitharaman said in her annual budget presented for 2021/22 financial year.

The government has proposed 17.5% cess on CPO and 20% cess on crude soybean and sunflower oil, she said.

India is the world's biggest importer of vegetable oils.

(Reuters)


Tags assigned to this article:
import duty government crude oil