Centre allows duty-free imports of 20 lakh MT crude soybean, sunflower oil

Gallery

MORE...

Sports

India Open Competition in Shotgun begins in Jaipur, paving way for Nationals' qualification

India Open Competition in Shotgun, organised by the National Rifle Association of India (N

Hockey India names Amir Ali-led 20-man team for Junior Asia Cup

Harmanpreet Singh named FIH Player of the Year, PR Sreejesh gets best goalkeeper award

World Boxing medallist Gaurav Bidhuri to flag off 'Delhi Against Drugs' movement on Nov 17

U23 World Wrestling Championship: Chirag Chikkara wins gold as India end campaign with nine medals

FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup

MORE...

Centre allows duty-free imports of 20 lakh MT crude soybean, sunflower oil

Last Updated : 25 May 2022 12:07:23 AM IST

Centre allows duty-free imports of 20 lakh MT crude soybean, sunflower oil

The Centre has allowed import of a quantity of 20 lakh tonne, each of crude soyabean oil and crude sunflower oil per year, for a period of two years at zero customs duty and Agricultural Infrastructure and Development Cess, an official note said on Tuesday.

This move comes amid rising retail and wholesale inflation in the country, and the government believes it would give a significant relief to consumers.

The notification will come into effect with immediate effect, the notification said.

India fulfills a major portion of its edible oil requirements through imports. However, the ongoing war in Ukraine has led to short supply of sunflower oil as both the countries involved in the war - Russia and Ukraine - are its major producers.

During the weekend, the government reduced excise duties on petrol and diesel, cut import duties on some raw materials needed for steel production, and announced subsidies for Ujjwala gas beneficiaries.

IANS

New Delhi