The Indian government has reduced the basic customs duty on crude soybean and palm oil from 10% to 5%, and on refined versions from 32.5% to 27.5%. This move is seen as a balanced intervention to manage domestic edible oil prices and supply. Importers of these oils can expect a reduction in costs, potentially lowering prices for consumers. This change could also influence import volumes and sourcing strategies for Indian companies dealing in edible oils. For detailed information, refer to the official publication.
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