Reduction of Basic Customs Duty on Edible Oils

The Indian government has reduced the Basic Customs Duty (BCD) on major imported crude edible oils, including sunflower, soybean, and palm oils, from 20% to 10%. This change aims to alleviate rising edible oil prices and inflation, encouraging domestic refining and ensuring that consumers benefit from lower retail prices. The duty differential between crude and refined oils has increased to 19.25%, promoting domestic production and reducing reliance on imported refined oils. Industry stakeholders are advised to pass on the benefits to consumers promptly.

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