News Capsule: Possible Cut in Edible Oil Import Duty to Curb Inflation
07-Apr-2026 09:57 AM
News Capsule: Possible Cut in Edible Oil Import Duty to Curb Inflation
★ The government is seriously considering a reduction in import duty on edible oils to control rising inflation. The move comes amid a sharp increase in retail prices of food items.
★ Edible oil prices in the domestic market have risen due to higher international prices and increased import costs. Recently, retail prices have gone up by more than ₹10 per litre.
★ Crude oil prices are unlikely to see a major decline in 2026 and are expected to remain in the range of $80–85 per barrel. If prices rise further to $100–120 per barrel, inflationary pressure could intensify.
★ Rising edible oil prices are also increasing costs for the FMCG sector, forcing companies to either hike product prices or reduce pack sizes.
★ Overall, the government aims to control food inflation through a possible cut in import duties, although this may impact farmers and the balance of the domestic market.