Reduction in import duty and cess on various edible oils
(Gujarat News Office) MUMBAI: The Mumbai oilseeds market witnessed a sharp decline in prices of various edible oils today. Before Dussehra, there were indications that the central government had reduced the import duty on edible oils and agri cess. There were indications that the government was making efforts to bring the market price to a reasonable level during the festivals. Recently there was talk of stock limits. Now there were indications of reduction in duty and cess. The duty on crude palm oil CPO has been reduced from 7.5 per cent to 7.5 per cent while the duty on RBD palm oil has been reduced from 7.5 per cent to 12.5 per cent. The duty on soyoil (crude) has been reduced from 7.5 per cent to 6.50 per cent. On the other hand, the duty on refined soyoil has been increased from 7.5 per cent to 19.50 per cent. The duty on sunflower oil (crude) has come down from 7.5 per cent to 6.50 per cent while that of refined oil has come down from 5.5 per cent to 12.5 per cent. Import dut...