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The Centre on Thursday said it will continue to monitor prices, taking adequate measures to balance consumer interest with those of farmers and the industry
The Ministry of FOOD on Thursday directed all edible oil companies to pass on the entire benefit of lower import duties on cooking oils to consumers. The directive came hours after the government reduced duties on edible oil import since prices had spiked just ahead of the festival season, owing to inflationary pressures arising from the sharp increase in international edible oil prices against the backdrop of the West Asia crisis.
In an official statement, the ministry said it has “issued an advisory to edible oil associations and industry stakeholders to ensure that the full benefit arising from the reduction in import duty is passed on to consumers”.
The Centre on Thursday said it will continue to monitor prices, taking adequate measures to balance consumer interest with those of farmers and the industry.
The government reduced the basic customs duty (BCD) on crude sunflower oil from 10 per cent to nil, and on refined sunflower oil from 32.5 per cent to 22.5 per cent. The BCD on crude soybean and palm oil was slashed from 10 per cent to 5 per cent, and on refined soybean and palm oil was cut from 32.5 per cent to 27.5 per cent on Wednesday.
Meanwhile, Solvent Extractor’s Association of India (SEA), estimates India’s edible oil import bill will rise 9 per cent to ₹1.75 trillion during the current marketing year ending in October due to higher volumes and rupee depreciation. Vegetable oil comprises edible and non-edible oils. India imports palm oil from Malaysia and Indonesia, while soybean oil comes from Argentina and Brazil.
First Published: Sep 24 2026 | 6:54 PM IST
