Government Reduces Customs Duty on Imported Edible Oils to Curb Inflation
What happened
The Union government reduced the Basic Customs Duty (BCD) on several major imported crude edible oils on September 24, 2026. The BCD on crude sunflower oil was reduced from 10% to nil, while the BCD on crude soybean oil and crude palm oil was lowered from 10% to 5%. The government also reduced the applicable BCD on the corresponding refined edible oils.
From thehindu.com
Why it matters
The decision was made to moderate domestic edible oil prices and mitigate inflationary pressures caused by sharp increases in international edible oil prices. Import duties are a key component of the landed cost, and the reduction is expected to lower the landed cost of these oils and pass benefits through the domestic supply chain.
The federal government is responsible for food security oversight, managing global oil supply impacts, and regulating road user charges.
From thehindu.com