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India Cuts Import Tax on Crude Palm Oil to 27.5% from 37.5%, Says Govt

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Representative image

India is the world's biggest importer of palm oil. It imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

India on Thursday slashed import tax on crude palm oil to 27.5% from 37.5%, the government said in a statement, as New Delhi tries to bring down rising food prices.

India is the world's biggest importer of palm oil. It imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

first published:November 26, 2020, 19:24 IST