India, renowned as the world’s largest vegetable oil importer, has opted to extend the import of edible oils at reduced tax rates until March 2025.
The government’s decision, outlined in a recent Reuters-reviewed order, aims to mitigate local price surges.
Duty Extension Details:
Originally scheduled to conclude in March 2024, the lowered import duty structure on crude palm oil, sunflower oil, and soy oil will persist beyond the initial timeframe.
Refiners are granted an extension, permitting continued imports at reduced duties until March 2025, as specified in the government’s order.
