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Policy▼ Bearish for Indian equities
SEA terms edible oil duty reduction a timely, balanced intervention
The brief
- BCD on crude soybean and palm oil was cut from 10% to 5%
- BCD on refined soybean and palm oil was cut from 32.5% to 27.5%
- Lower import duties may pressure domestic edible-oil producers and ease costs for food companies
- CBIC eases paperwork to claim concessional duty on imports from UK
- Ministry of Finance announces revised anti-dumping duty on imports from Bangladesh and Nepal
- DGFT delists 15 scrap inspection agencies; importers flag disruptions
- Quality control and India’s manufacturing growth
India’s edible oil import duty cuts
Effective September 24, basic customs duty on crude soybean and palm oils fell from 10% to 5%, while rates on refined oils fell from 32.5% to 27.5%. The cuts aim to ease consumer prices ahead of the festive season, though farmers say they threaten their livelihoods.
Saturday, 26 September
Friday, 25 September
Thursday, 24 September
- SEA terms edible oil duty reduction a timely, balanced intervention