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Edible oil prices: Govt considers import tax cut to curb record highs
6 views | May 28, 2021, 06:00:00 AM | TOI.in
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Government and industry officials are considering lowering the import tax on edible oils in an attempt to curb soaring prices, as per reports. These tax reductions would reduce local prices of edible oils and boost consumption. An increase in consumption would support Malaysian palm oil, along with soy and sunflower oil prices. However, no decision has been made yet. Modal prices for edible oils in the country increased by 25-50 per cent in the past one year.
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