In an effort to control local prices, India has issued a government order allowing the import of edible oils at lower tax rates until March 2025. As the world’s leading importer of vegetable oil, India is taking proactive measures to keep a check on domestic prices.
The original expiration date for the reduced import duty structure on crude palm oil, crude sunflower oil, and crude soyoil was set for March 2024. However, according to the recent order, refiners can now continue to import these oils at lower duties until March 2025.