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The basic customs duty on crude soybean oil and crude palm oil has been halved to 5%, while the duty on refined soybean and palm oils has been cut to 27.5% from 32.5%. For sunflower oil, the government has scrapped the 10% duty on crude imports, while the duty on refined sunflower oil has been lowered to 22.5% from 32.5% The duty cuts, effective September 24, could provide some relief to food inflation. The move is expected to reduce the landed cost of edible oils, potentially transmitting into lower domestic prices. India is among the world's largest edible oil importers, making global commodity prices, freight costs and the exchange rate important determinants of domestic edible oil inflation. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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