India cuts base import tax on crude vegetable oil imports to zero % -govt

Topics Import tax | Vegetable oil | Centre

India on Wednesday slashed its base import tax on crude palm oil, crude soyoil and crude sunflower oil to zero from 2.5%, as the world's biggest vegetable oil buyer tries to cool near-record price rises.

The south Asian country also reduced Agriculture Infrastructure and Development Cess (AIDC) on crude palm oil imports to 7.5% from 20%, while AIDC on crude soyoil and crude sunflower oil reduced to 5% from 20%, the government said.

 

(Reporting by Rajendra Jadhav; Editing by Louise Heavens)


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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