Welcoming the Decision to Cut Import Duties on Edible Oils

Mumbai: The Solvent Extractors' Association of India (SEA), a leading industry body, has welcomed the government's decision to reduce import duties on edible oils, describing it as a balanced and timely move. Such a policy intervention was anticipated from the government.

It is noteworthy that the government issued a notification reducing the basic import duty on crude palm oil and crude soybean oil from 10 percent to 5 percent, and on crude sunflower oil from 10 percent to zero percent.

Similarly, the import duty on refined soybean oil and RBD palm oil/palmolein has been lowered from 32.5 percent to 27.5 percent, while the duty on refined sunflower oil has been reduced from 32.5 percent to 22.5 percent. These measures are expected to lower import costs.

According to the Association, domestic market prices for edible oils are currently higher than last year, and the peak festive season is about to begin. Against this backdrop, the government has taken a prudent decision by cutting import duties by 5 and 10 percentage points. The decision to reduce duties came into effect on September 24, 2026.