India cuts import duties on refined soybean, sunflower oils to 12.5 %
The government has lowered import duty on refined soyoil and refined sunflower oil to 12.5 percent from 17.5 percent
India slashed base import duty on refined soyoil and sunflower oil to 12.5 percent from 17.5 percent, a notification read.
The country imports soyoil and sunflower oil mainly from Argentina, Brazil, Ukraine and Russia.
With this latest order, now all crude edible oils crude palm oil, crude sunflower oil and crude soyabean oil attract import duty of 5 per cent. Their refined oils attract import duty of 12.5 per cent plus cess at 10 per cent on import duty.
Last year December and September, the government cut import duties on crude palm, soybean and sunflower oils, it extended the concessional duties on edible oils till 31 March 31 next year.
Ms Kalinga