&imwidth=800&imheight=600&format=webp&quality=medium "Govt slashes duty on edible oils to curb price rise ahead of festive season")
The Union government on Wednesday cut basic customs duty (BCD) on crude and refined edible oils to lower import costs for cooking oils and provide some relief to consumers ahead of the festive season.
The Centre has reduced the BCD on crude soybean oil and crude palm oil to 5% from 10%, according to a Finance Ministry notification issued on Wednesday.
The basic customs duty for crude sunflower oil has been brought down to nil from 10%, while the duty on refined sunflower oil has been lowered to 22.5% from 32.5%.
The duty on refined soybean and refined palm oil has also been reduced to 27.5% from 32.5%. The revised duties will take effect from Thursday, September 24.
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The government has made the changes by amending its earlier customs notification of 24 October 2025.
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Edible oil prices rose sharply over the past year
The government has slashed duties as edible oil prices have risen sharply over the past year in a bid to ease pressure on household budgets ahead of the festive season, with Navratri beginning on 11 October, followed by Dussehra on 20 October and Diwali on 8 November.
As per data from the consumer affairs ministry, as of 23 September, retail prices of soybean oil rose to Rs 166.87 per kg from Rs 146.44 per kg a year ago. Sunflower oil price had risen to Rs 194.26 a kg from Rs 162.56 a kg a year ago, while palm oil was at Rs 153.89 a kg from Rs 132.28 per kg.
Also Read: ‘Unwarranted, factually incorrect, no locus standi’: India hits back at OIC over Kashmir remarks
Domestic production covers only 40% of demand
India’s edible oil demand is around 26 million tonnes annually, while domestic production can cover only up to 40% of this requirement.
India’s heavy dependence on imports leaves domestic edible oil prices exposed to global price movements, freight costs and currency fluctuations.
Edible oil imports jumped to 1.48 million tonnes in July from 1.1 million tonnes in June, an increase of about 35% month-on-month.
