Delhi/Hyderabad, June 15 (Hydnow): The Central government took a sensational decision on Wednesday at midnight. Import duty on refined soybean oil and refined sunflower oil has been reduced to curb food inflation. Import duty on both these oil has been reduced from 17.5 percent to 12.5 percent. This is likely to reduce the prices for the consumers as well.
According to the sources the domestic and international prices of cooking oil have decreased for a few months and market sources are demanding an increase in tariffs. But the government reduced these tariffs. Traders say that since it is an election year, the government is focusing on food inflation. As it is an Electioneering year, it is said that there is concern over the southwest monsoon in 2023. It is said that the government wants to keep cooking oil prices under control. It is said that the reduction in tariffs may have a temporary sentimental effect.
As of June 2, 2023, the price of imported crude palm oil in India is around $ 860 per tonne. This is 45 percent less than last year. Imported crude soybeans cost $ 970 a tonne. This is 43 percent less than last year. the price of imported crude sunflower oil is $ 860 per tonne. This is 55 percent less than last year.
In April 2023, our country imported 1.05 million tonnes of cooking oils. This is 15 percent more than what was imported during the same period last year. (Hydnow)
Next Story:
-
BRS Leaders Held Protest Over CM Revanth’s Comments On BRS Women Leaders
BRS leaders staged protest condemning the objectionable comments made by Chief Minister A Revanth Reddy against senior women BRS leaders P Sabitha Indra Reddy and V Sunitha Lakshma Reddy.
-
Strict Action Against People Who Collect Parking Fees Against Rules: GHMC Commissioner
GHMC Commissioner Amrapali Kata said that action has been taken against the malls and multiplexes that are charging parking fees contrary to the rules within the GHMC.
-
Osmania University Rescheduled Telangana SET
Osmania University on Thursday rescheduled the Telangana State Eligibility Test (TG SET), which will now be conducted from September 10 to 13.
-
Heavy Rains Warning In Telangana
The Indian Meteorological Department, (IMD) Hyderabad Center has warned that heavy rains will occur in many districts of Telangana state.
-
Four People Involved In Dacoity Offence Arrested
Maidardevpally and CCS Rajendra Nagar teams proceeded and apprehended the four offenders at Sasthripuram at Sasthripuram namely 1. Aqeel, 2. Adnan, 3. Mohd Saif, 4. Moshin
Now you can get the latest stories from Hydnow every day. Click the link to subscribe. Click to follow Hydnow’s Facebook page and Twitter and Instagram