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?
Mumbai: Television actress Hina Khan, who is battling breast cancer, recently met host Salman Khan…
Mumbai: Following reports of his alleged link-up with bassist Mohini Dey, renowned music composer AR…
Mumbai: The love story of actors Tamannaah Bhatia and Vijay Varma has not been clandestine.…
Puri: Shree Jagannath Temple Administration (SJTA) has received the report of the Ratna Bhandar’s GPR-GPS…
With his debut novel ‘The Other Side of the Rainbow’ published recently, Niranjan Nayak, an…
Bhubaneswar: Odisha outplayed Chhattisgarh 4-1 on Saturday to seal a berth in the final round…
Mumbai: The Telangana government’s notice barring him from singing songs promoting alcohol and drugs at…
Bhubaneswar: Prime Minister Narendra Modi will participate in the ‘Odisha Parba 2024’ programme on Sunday…