To ease domestic prices, the Indian government has reduced the basic import tax on crude edible oils, effective from May 30. This decision comes as India relies heavily on imports to meet over 70% of its vegetable oil demand, sourcing palm oil from Southeast Asia and soyoil and sunflower oil from South America, Russia, and Ukraine.
To ease domestic prices, the Indian government has reduced the basic import tax on crude edible oils, effective from May 30. This decision comes as India relies heavily on imports to meet over 70% of its vegetable oil demand, sourcing palm oil from Southeast Asia and soyoil and sunflower oil from South America, Russia, and Ukraine. Read More