India cuts base import duty on refined soyabean oil, sunflower oil by 5%
India, the largest importer of refined oil, has slashed import duty on refined sunflower and soyabean oil to 12.5 per cent with effect from June 15. The government decision is expected to augment local prices of oil. Previously, the government had cut the import duty from 32.5 per cent to 17.5 per cent in 2021.
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