What is the import duty on palm oil & Soyabean oil?
It is hopeful of a favourable decision soon. Currently, the import duty (including cess) on crude palm oil, soyabean oil and sunflower oil is 5.5 per cent and on refined edible oils 13.75 per cent.
How much is import duty on refined sunflower oil & Soyabean oil?
The Central government has reduced the import duty on refined sunflower oil and refined soyabean oil from 17.5 per cent to 12.5 per cent. In a late evening Customs notification on Wednesday, the Government said the new duty structure will be effective from June 15.
Is refined palm oil a free import?
This duty has been extended up to 31st March, 2024. The Government has extended the free import of Refined Palm Oils till further orders. As on 20.07.2023, the international prices of major Edible oils such as Crude Soybean Oil, Crude Sunflower Oil, Crude Palm Oil and Refined Palm Oils have decreased drastically since last year.
How much does sunflower oil cost in Tanzania?
Sunflower oil comprises 83% of total edible oils produced in Tanzania but meets only 30% of demand. Sunflower farmer in Tanzania While consumers prefer refined sunflower oil over imported palm oil, they find the cost differential prohibitive (USD 2.2/L vs. USD 1.5/L, respectively).
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