The record
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- The central government has lowered import duties for various crude and refined cooking oils starting September 24.
- Duties on crude palm and soybean oils decreased from 10% to 5%, while the duty on crude sunflower oil was eliminated entirely.
- Refined varieties also received reductions ranging from 5% to 10%.
- These adjustments aim to lower consumer prices during the upcoming period of increased seasonal demand.
Who said what1
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Sudhakar Desai
President of Indian Vegetable Oil Producers’ Association
1 quote · 1 outlet
“Lower import duties should improve the landed costs of imported edible oils, which can provide some reduction in consumer prices”
In the article
…(IVPA) highlighted that retail cooking oil prices are expected to cool down just as household consumption and demand from the hotel, restaurant, catering (HORECA), and sweet-manufacturing sectors begin to surge. “ Lower import duties should improve the landed costs of imported edible oils, which can provide some reduction in consumer prices ,” Sudhakar Desai, president of IVPA was quoted as saying by PTI. Desai noted that the steeper cut on sunflower oil makes it notably more affordable, particularly across South India, where it sees high consumption.…
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Named India · Indian Government · Indian Vegetable Oil Producers’ Association · Sudhakar Desai
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