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

By: | Published: September 23, 2016 7:21 PM

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

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 percent from 25 percent. The import duty on crude palm oil and refined edible oils have been reduced to 7.5 and 15 percent respectively, the order posted on a government website, showed.

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

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