Govt reduces import duty on edibile oils

The government has announced a reduction in the import duty on edibile oils. The announcement comes within 48 hours of a reduction in import duties of several metals and cement in order to contain inflation.

The inflation had touched 6.12 per cent for the week which ended on January 6. The import duty on crude palm oil has been reduced to 60 per cent from 70 per cent. The duties on RBD (refined, bleached, deodorized palm oil) have been cut to 67.5 per cent from 80 per cent. Import duty on crude sunflower oil has been cut to 65 per cent to 75 per cent and refined sunflower oil to 75 per cent from 85 per cent.