Import Duties on Edible Oils Cut to Curb Price Surge

New Delhi: To curb the rise in prices during the peak festive season, the Central Government has reduced the import duty on crude palm oil and crude soybean oil from 10 percent to 5 percent, and lowered the customs duty on refined edible oils from 32.5 percent to 27.5 percent. A reduction in import duties on edible oils had been anticipated for some time. Regarding crude sunflower oil, the import duty has been slashed from 10 percent to zero. Similarly, the import duty on refined sunflower oil has been reduced by 10 percentage points, bringing it down from 32.5 percent to 22.5 percent.

An official notification stated that these changes in import duty levels for edible oils would come into effect today, i.e., September 24, 2026.

It is noteworthy that a few days ago, industry bodies met with the Union Food Secretary to provide details on edible oil stocks and apprise the government of fluctuations in domestic and global market prices. Since then, it was widely expected that the government might announce a cut in import duties on edible oils at any moment. The announcement was finally made late on the night of September 23.

Food inflation based on the Wholesale Price Index (WPI) surged to 7.1 percent in August 2026, marking a 20-month high. The inflation rate had stood at 6.6 percent in July. The rise in food inflation was attributed to price hikes in items such as spices, milk, fruits, and vegetables, alongside edible oils.