On Tuesday, the Indian government announced a one-year extension of the reduced import duty on edible oil, now effective until March 2025. The initial expiration date for the lower import duty on crude palm oil, crude sunflower oil, and crude soy oil was set for March of this year. As the largest global importer of vegetable oil, India has opted to maintain the lowered import duty structure. Notably, the basic import duty on refined soybean oil and sunflower oil was reduced from 17.5% to 12.5% in June of the previous year. The primary sources of India's palm oil imports are Indonesia and Malaysia. Catch Manisha Gupta in conversation with Sandeep Barjoria - Sunvin with more details
first published: Jan 16, 2024 01:30 pm
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