India reduces soyoil, sunflower oil import tax to calm prices

By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) -India has cut base import taxes on crude and refined soyoil and sunflower oil to 7.5% from 15% for six weeks, a government order showed, as the world's biggest vegetable oil buyer tries to cool near record high prices.

The tax reduction could increase imports of soyoil and sunflower oil in September, although a big jump is unlikely as the lower duty is only applicable for a short period until Sept. 30, industry officials said. "Logistically it is not feasible.....

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