Govt's edible oil duty cut to have little impact on prices, say traders

Edible oil prices in the domestic market, which have been on the boil since the last few months, may not climb down much despite the Centre’s decision on Thursday night to lower import duties.

This is because corresponding prices in the international markets have moved up, nullifying the impact of duty cut.

Traders and market watchers, however, were critical of the decision to allow import of refined palm oil without any restrictions. This is on the grounds that it will lead to a flood of cheap edible oils from Malaysia and Indonesia and sound the death knell for the domestic industry.

“It (Centre)