2 Nov 2018
Govt. of India on Wednesday revised lower import tariffs on all the edible oils. Lower prices of edible oils in international market and weak rupee against dollar in last fortnight has compelled govt. to reduce the rates.
Import tariffs on crude soy oil has been revised lower at $728/ton (Rs.20,825) from $741 (Rs.21,197) a fortnight ago. Similarly, import tariffs on CPO and RBD Palmolein has been revised at $538/ton from $541 and $590/ton from $592, respectively.
Despite lower tariffs, exchange rate for imports which is set at Rs.74.7 per dollar (74.3 previously), will keep the attractiveness of edible oil import, lower.