New Delhi, 5/5: Centre plans to cut taxes on edible oils to cool surging pricesIndia is especially vulnerable to soaring vegetable oil prices as it relies on imports for 60 per cent of its needs
India, the world’s top importer of vegetable oils, is looking to cut the agriculture infrastructure and development cess on crude palm oil imports from 5 per cent. Credit: Bloomberg
The Centre is planning to cut taxes on some edible oils to cool the domestic market after the war in Ukraine and Indonesia’s ban on palm oil exports sent prices skyrocketing, according to people familiar with the matter.
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