50% Reduction In Customs Duty On Crude Edible Oils: CBIC [READ NOTIFICATION]
![50% Reduction In Customs Duty On Crude Edible Oils: CBIC [READ NOTIFICATION]](https://jhoursite.hocalwire.in/wp-content/uploads/2025/05/edible-oil.jpg "50% Reduction In Customs Duty On Crude Edible Oils: CBIC [READ NOTIFICATION]")
50% Reduction In Customs Duty On Crude Edible Oils: CBIC [READ NOTIFICATION]
In a significant move aimed at easing domestic prices and boosting edible oil supply, the Central Board of Indirect Taxes and Customs (CBIC) has announced a 50% reduction in the basic customs duty on key crude edible oils.
The revised rates came into effect on May 30, 2025.
According to the notification reviewed by Reuters, the basic customs duty on crude palm oil, crude soyoil, and crude sunflower oil has been slashed from 20% to 10%. When factoring in additional levies such as the Agriculture Infrastructure and Development Cess and the Social Welfare Surcharge, the overall effective import duty now stands at 16.5%, a steep drop from the earlier 27.5%.
The policy shift is expected to spur domestic demand and lead to increased imports of palm, soy, and sunflower oils. Analysts anticipate the move will exert downward pressure on edible oil prices, providing relief to consumers amid rising food inflation.
India is the world's largest importer of edible oils, and any change in import duties significantly influences both global markets and domestic consumption patterns. The duty cut is being seen as a strategic intervention to stabilize food prices and ensure adequate supply in the Indian market.
Notification Details
Notification No. 31/2025-Customs
Date: 30th May, 2025
Read More: FinMin Recommends RBI Ease Gold Loan Guidelines For Small Borrowers [READ TWEET]
