Sticky edible oil prices prompt fresh import duty cuts

In a bid to curb the persistently high inflation in edible oils, the government has decided to exempt crude palm, soya-bean and sunflower seed oils from customs duty, and slash the Agriculture Infrast

In a bid to curb the persistently high inflation in edible oils, the government has decided to exempt crude palm, soya-bean and sunflower seed oils from customs duty, and slash the Agriculture Infrastructure and Development Cess (AIDC) levied on their imports from October 14 till March 31, 2022.

The customs duty on edible grade palm, sunflower and soya-bean oils is being virtually halved as well, from 32.5% to 17.5% for the same period, with no cess levied on their imports.