India extends import duty reduction for edible oils to March 2025

The lower import duty structure on crude palm oil, crude sunflower oil and crude soyoil was originally set to expire in March 2024

By Reuters

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Photo: AFP
Photo: AFP

Published: Fri 22 Dec 2023, 10:29 AM

India will allow the import of edible oils at lower import tax rates until March 2025, according to a government order seen by Reuters on Friday, as the world's biggest importer of vegetable oil moves to keep a lid on local prices.

The lower import duty structure on crude palm oil, crude sunflower oil and crude soyoil was originally set to expire in March 2024. However, as per the order, refiners can now continue to import at lower duties until March 2025.

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