Reduction in prices due to reduction in import duty on edible oils
Relief for housewives as prices of edible oils fall due to festivals (Gujarat News Office) MUMBAI: Prices of edible oils in the Mumbai Oilseeds market were lower today amid instructions from the Center to reduce import duties on various imported edible oils during the festive season. Palm oil, which is priced at Rs 15 per 10 kg, was quoted at around Rs 1,215 to Rs 150 in hawala resell today. The direct delivery price of importers was around Rs. Behind these reports, an old can of groundnut oil worth Rs. 20 reduced to Rs. 20 fell to 20-30, old cans of cottonseed Rs. 20 reduced to 210, new coaches Rs. 20 reduced to 200-50 and old palmolin cans Rs. 20 was reduced to 150-2050. The import duty on edible oils has been reduced by about 5.5 per cent on crude palm oil, soyoil digam and crude sunflower oil, citing an increase in agricultural welfare cess against the government's reduction in import duty. Import duty on CPOs fell by 7.5 per cent, soybean oil by 2.5 per cent and crude sunf