Indian Economy News

India extends import duty reduction for edible oils to March 2025

  • IBEF
  • December 26, 2023

India has issued a government order, as reported by Reuters on Friday, extending the permission for the importation of edible oils at reduced tax rates until March 2025. This decision, aimed at regulating local prices, comes considering India being the largest global importer of vegetable oil.

The initial expiration date for the lower import duty structure on crude palm oil, crude sunflower oil, and crude soy oil was set for March 2024. However, the recent order allows refiners to sustain the importation of these oils at the reduced duty rates until March 2025.

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