India: India Reduces Import Duties on Refined Sunflower and Soybean Oils
On June 14, 2023, India’s Ministry of Finance issued Public Notice No. 39/2023 - Customs that reduces the import duty on refined sunflower and soybean oils. As of June 15, 2023, the basic customs duty (BCD) for both refined oils are lowered from 17.5 percent to 12.5 percent, which aligns with the government’s import duty for refined, bleached deodorized (RBD) palm olein. The move is intended to control fluctuating edible oil prices.
