Centre cuts duty on refined oils, extends import tenure of pulses

For tur and urad, the cargo should arrive in India before June 30, 2022

Finance minister Nirmala Sitharaman has said in Parliament that the Centre is taking a series of measures to rein in rising prices of edible oils and other essential commodities. She said this after her government announced one of the strictest clampdowns on futures trading in agricultural commodities.

Thereafter, the Centre announced a series of measures to check rising prices of two main commodities — edible oils and pulses. The government lowered the basic customs duty on refined palm oil to 12.5 per cent from 17.5 per cent till March 2022. It also allowed traders to import refined palm oil without licence