Centre scraps levy on crude soyabean oil, sunflower seed oil shipments

The Centre has scrapped the customs duty and cess levied on shipments of crude soyabean oil and crude sunflower seed oil imported by firms that had been authorised for such imports under the Tariff Rate Quota regime in 2022-23. The duty exemptions will be effective from Thursday till June 30, the Central Board of Indirect Taxes and Customs said. Global edible oil prices had shot up last year after the Russia-Ukraine conflict broke out. Ukraine is one of the world’s leading suppliers of sunflower oil. Edible oils and fats prices fell about 7.8% for Indian consumers this March, compared to sharper prices a year ago.

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