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India cuts import duties on edible oils to ease prices ahead of festivals

6 sources · first seen 22:23 23 Sept · updated 18:54 24 Sept

The brief

Written from 6 reports · check the source before you trade
  • Customs duties were cut on crude and refined palm, soybean and sunflower oils
  • The government wants lower import costs and requires companies to pass duty cuts on to consumers
  • Lower edible-oil costs may pressure margins at IndianOil and benefit packaged-food companies

Market read

the session the news first traded, and since
StockTradedThat dayvs NiftyVolumeSince
IOCThu, 24 Sept−1.4%+0.3%0.9×−1.8% · Nifty −1.3%

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Import duties2 todayFood prices5 todayFarm commodities7 todayInflation21 todayFestive season3 todayIndian Oil₹135.70 · 2 todayTrade and tariffs30 todayAgriculture9 today

Linked by the tag Import duties

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Part of a developing story8 updates over 5 days

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

  1. 2 sources
    India cuts edible-oil import duties ahead of festivals

Friday, 25 September

  1. AWL Agri expects edible oil demand to recover as prices fall and festive season nears
  2. Edible oil duty cut may put 8% retail price hikes on hold

Thursday, 24 September

  1. SEA terms edible oil duty reduction a timely, balanced intervention
  2. Here's why Patanjali Foods, AWL Agri and Godrej Agrovet shares will be in focus today

Wednesday, 23 September

  1. 2 sources
    Centre cuts import duty on edible oils ahead of festivals
  2. 6 sourcesYou are here
    India cuts import duties on edible oils to ease prices ahead of festivals

See all 8 updates →

Read the reports

7 reports · earliest 22:23
ReutersIndia cuts edible oil import duty to lower prices ahead of festivals22:23Business LineIndia cuts import duty on palm, soybean oils to lower edible oil prices23:36CNBC-TV18India cuts basic customs duty on sunflower, soybean, palm oil varieties00:17Economic TimesGovt cuts edible oil duty to ease prices00:41CNBC-TV18India cuts edible oil import duty to lower prices ahead of festivals09:06Business TodayGovt cuts customs duty on edible oil ahead of festive season13:19Business StandardCompanies must pass on edible oil duty cuts to consumers, says govt18:54