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Import duty on refined palm oil reduced
December 29 , 2021
1057 days
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- Concerned over the high prices of cooking oils, the government has reduced the basic customs duty on refined palm oil to 12.5% from 17.5% till March next year.
- This is to boost domestic supplies and bring down rates in the domestic retail markets.
- With the reduction in the basic customs duty (BCD), the effective levy (including social welfare cess) on both refined palm oil and refined palmolein will come down to 13.75%, from 19.25%.
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