Govt cuts import tax on wheat, crude palm oil, refined oils

Govt lowers the import duty on wheat to 10%, crude palm oil to 7.5 % and refined edible oils to 15% respectively


Govt lowered the wheat import tax to 10%  from 25%. Photo: Ramesh Pathania/Mint
Govt lowered the wheat import tax to 10% from 25%. Photo: Ramesh Pathania/Mint

New Delhi: India has cut the import tax on wheat, crude palm oil and refined vegetable oils, a finance ministry order showed on Friday, as part of efforts to curb food inflation.

New Delhi lowered the wheat import tax to 10% from 25%. The import duty on crude palm oil and refined edible oils have been reduced to 7.5 and 15% respectively, the order posted on a government website, showed.

India, the world’s biggest edible oil importer, used to levy 12% import tax on crude palm oil and 20% on refined vegetable oils. Reuters

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