The record
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- The Indian government reduced basic customs duties on crude and refined soybean, palm, and sunflower oils.
- These duty cuts are effective from September 24.
- Lower import costs are expected to reduce prices for consumers.
- The measure may also boost consumption during the festive season.
What to watch next
- Retail price adjustments for edible oils following the duty reductions
- Impact on consumption levels during the September-November festive season
- Movement in benchmark Malaysian palm oil and US soyoil futures
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