Saturday, February 4, 2023
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion
No Result
View All Result
News 100
No Result
View All Result
Home World

India cuts import taxes on palm oil, sunflower oil to calm prices

news100 by news100
September 11, 2021
in World
0 0
0
India
0
SHARES
50
VIEWS



India has cut base import taxes on palm oil, soyoil and sunflower oil, a government order showed, as the world’s biggest vegetable oil buyer tries to cool near-record price rises.

Related posts

Botswana’s ex-leader Khama asks court to set aside arrest warrant

Botswana’s ex-leader Khama asks court to set aside arrest warrant

January 6, 2023
markets, stock market, brokers, investors, sensex, correction, nifty, shares, growth, profit, economy, gain

Financial, IT shares drag Sensex 453 pts, ends below 60K; Nifty near 17,850

January 6, 2023


The reduction in taxes could bring down prices of the edible oils in India and boost consumption, effectively increasing overseas buying by the south Asian country.





The base import tax on crude palm oil has been slashed to 2.5% from 10%, while the tax on crude soyoil and crude sunflower oil has been reduced to 2.5% from 7.5%, the government said in a notification late on Friday. The base import tax on refined grades of palm oil, soyoil and sunflower oil cut to 32.5% from 37.5%.


After the cuts, crude palm oil, soyoil and sunflower oil imports will be subject to a 24.75% tax in total, including a 2.5% base import duty and other taxes, while refined grades of palm oil, soyoil and sunflower oil would carry a 35.75% tax in total.


India fulfils more than two-thirds of its edible oil demand through imports and has been struggling to contain a rally in local oil prices for the last few months.


The country imports palm oil mainly from top producers Indonesia and Malaysia, while other oils, such as soy and sunflower, come from Argentina, Brazil, Ukraine and Russia.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Tags: ArgentinaBrazilcrude palm oilcrude sunflower oiledible oil demandindiaIndonesialocalMalaysiaMumbaioilpalm oilRajendra JadhavRussiaSunflower oilsunflower oil importsukrainevegetable oil buyerVegetable oils

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

News 100

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc.

Follow us on social media:

Recent News

  • Commuters suffer fourth day of chaos as RMT launches new 48-hour strike -LIVE
  • North Korean students are expelled and forced to work in a coal mine
  • FA Cup third round, transfer window news and more: weekend countdown – live

Category

  • Africa
  • Australia
  • Business
  • China
  • Culture
  • Europe
  • History
  • History & Art
  • India
  • Lifestyle
  • Middle East
  • National
  • News
  • Opinion
  • Politcs
  • Science
  • Shorts
  • Sports
  • Travel
  • UK
  • Uncategorized
  • United States
  • World

Recent News

Commuters suffer fourth day of chaos as RMT launches new 48-hour strike -LIVE

Commuters suffer fourth day of chaos as RMT launches new 48-hour strike -LIVE

January 6, 2023
North Korean students have been expelled from university and forced to work in a coal mine because they sounded as if they had been watching too much foreign TV, which is banned by dictator Kim Jong-un (pictured in a photo released Jan. 1) in the authoritarian country

North Korean students are expelled and forced to work in a coal mine

January 6, 2023
  • Home 2
  • Science
  • UK
  • Australia
  • Sports
  • World
  • United States
  • India
  • History & Art
  • Uncategorized
  • Europe

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Slot88

Slot Gacor

Situs Slot Gacor

Slot Gacor

Slot Online

Daftar Slot88

Slot88

Slot Gacor

Slot Gacor

Slot88 Online

Slot Gacor Pragmatic

Slot Online Terbaik dan Terpercaya

Slot Gacor

Slot Online Terbaik dan Terpercaya