India has cut the import duty on refined edible oil
coming from Pakistan and Sri Lanka to
52.5% from 68.75%. The duty on edible oil
imports from Nepal, Bangladesh, Maldives and Bhutan has been cut to 52.5% from 56.67%, an official
notification from the Central Board of
Excise and Customs said. The duty on
crude palm oil imports from the South Asian Free Trade Agreement (SAFTA) member nations has
been reduced to 50%. However, this move
is not going to make a very big impact,
as edible oil imported from SAFTA constitutes a very negligible part of the total edible
oil
imports.