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:
-
No Change In Gold Prices In Hyderabad Today
The gold rates today stable in Hyderabad on 19 April, 2026. Going by the rates today, the price of 10 grams of 22-carat gold is Rs. 1,42,800 while the rate of 10 grams of 24-carat gold is at Rs 1,55,780.
-
Youth Commits Suicide Under suspicious circumstances
Suryapet / Hyderabad, April 18 (Maxim News): A young man died after hanging himself from a neem tree under suspicious circumstances on Saturday morning at Anantaram Adda Road in Penpahad Mandal of Suryapet district.
-
Private Bus Catches Fire In KPHB, Passengers Escape Unhurt
Hyderabad, April 18 (Maxim News) A major fire broke out in a private travel bus in the KPHB on Friday night, triggering panic among passengers. However, alert staff ensured that all 20 passengers were safely evacuated before the flames spread, averting a major tragedy.
-
Hyderabad: Father, 2-Year-Old Die in Road Accident
Hyderabad, April 15 (Maxim News): A horrific road accident took place on the Outer Ring Road in Hyderabad. A father and his two-and-a-half-year-old son died after being hit by a tanker that was watering trees.
-
Elder Brother Kills Younger Brother in Chaderghat
Hyderabad, April 15 (Maxim News): A brutal incident took place in the limits of Chaderghat police station in Hyderabad. An elder brother murdered his own younger brother. Geographic Reference
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