Govt slashes basic customs duty on crude edible oils from 20% to 10%

The government has reduced the Basic Customs Duty on crude edible oils like soybean, sunflower, and palm from 20% to 10% to control rising prices. This move widens the import duty differential, encouraging domestic refining and reducing refined oil imports. The food ministry has directed industry associations to immediately pass on the duty reductions to consumers by adjusting prices.