Centre Hikes Import Duty on Edible Oils to Help Farmers

The Centre has raised import duty on crude palm oil to 30 percent from 15 percent and on refined oil to 40 percent from 20 percent in a bid to curb cheaper shipments and boost local prices for supporting farmers and refiners, according to a notification.

Import duty on soyabean oil, sunflower oils, canola/mustard oils — both crude and refined format — has been raised, the notification released by the Central Board of Excise and Customs (CBEC). Import duty on Soyabean has also been increased.

Source- All India Radio (AIR News)

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