Cooking oil may get cheaper as Centre cuts import duty on palm, soybean and sunflower oils
- New edible oil duty cuts took effect on Sep 24, covering palm, soybean and sunflower oils.
- Duty on crude soybean and palm oil fell from 10% to 5%, while refined oil dropped to 27.5%.
- Crude sunflower oil duty was cut from 10% to zero, while refined sunflower oil fell to 22.5%.
- Lower import costs could reduce cooking oil prices, though savings depend on how much firms pass on.
Source: hindustantimes.com
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