India Cuts Import Duties on Palm Oil, Soy Oil Amid Peak Festive Demand

India has announced a reduction in import duties on crude and refined edible oils, including Palm Oil, Soy oil, and Sunflower Oil. The policy aims to ease elevated domestic edible-oil prices ahead of India's peak festive consumption period. According to ChemAnalyst, the basic import duty on crude Palm Oil and crude Soy oil has been reduced to ** from ***.

The duties on refined Palm Oil and refined Soy oil were also lowered to **.* from **.*. The basic duty on crude Sunflower Oil was eliminated, falling to zero from ***. Meanwhile, refined Sunflower Oil duty declined to **.* from **.*. India meets nearly two-thirds of its vegetable-oil requirement through imports.