New Delhi: After reducing the excise duty on petrol and diesel, the Central government has taken steps to check rising price of edible oils over the past one year.
The Ministry of Consumer Affairs, Food & Public Distribution has stated that basic duty on crude palm oil, crude soyabean oil and crude sunflower oil has been cut from 2.5% to nil. Further, the Agri-cess has been brought down from 20% to 7.5% for palm oil and 5% for soyabean and sunflower oil.
Consequently, total duty for palm oil is 7.5%, while for soyabean and sunflower oil it’s 5%. Basic duty on RBD palmolein oil, refined soyabean and refined sunflower oil has been slashed from 32.5% to 17.5%.
The Centre has also rationalised import duties on palm oil, sunflower oil and soyabean oil, while futures trading in mustard oil on NCDEX has been suspended and stock limits have been imposed.
As a result, wholesale prices have been reduced by Rs 4 to Rs 7 per litre by major edible oil players like Adani Willmar and Ruchi Industries.
Also Read: Edible Oil: Will Prices Come Down During Festive Season?
Bhubaneswar: The Odisha Police Recruitment Board (OPRB) has postponed the upcoming examination for Group B… Read More
Bhubaneswar: The Supreme Court Collegium has recommended the appointment of Justice Harish Tandon as the… Read More
Bhubaneswar: Two senior IAS officers of Odisha cadre – Ranjana Chopra and Santosh Kumar Sarangi… Read More
Bhubaneswar: Skygazers are in for a treat as the spectacular total lunar eclipse, also known… Read More
Lucknow: An ‘active terrorist’ of Babbar Khalsa International (BKI), who allegedly has ties with Pakistan’s… Read More
Bhubaneswar: The Odisha government on Thursday directed the district functionaries to launch a strict enforcement… Read More
This website uses cookies.
