New Delhi, June 15 (KNN) The Central Government has reduced the basic import duty on refined soybean oil and refined sunflower oil from 17.5 per cent to 12.5 per cent.

An order to this effect was issued by the Department of Food and Public Distribution on June 14, wherein the import duty on Refined Soyabean Oil and Refined Sunflower Oil has been reduced with effect from June 15,2023.

This will remain in force till March 31, 2024.

The decision is expected to augment the earlier measures taken by the Government to reduce the prices of Edible Oils in the domestic market.

Reduction in Import Duty on Refined Sunflower Oil and Refined Soyabean Oil will benefit the consumers, as it will help in easing the domestic retail prices, an official statement said.

The Import Duties on Refined Soyabean Oil and Refined Sunflower Oil were last reduced from 32.5 per cent to 17.5 per cent in October, 2021.  (KNN Bureau)