New Delhi, May 31 -- In a strategic move to curb food inflation and bolster domestic refining, the Indian government announced a 10 percentage point reduction in the basic customs duty on crude edible oils.

Effective immediately, the duty on crude palm oil, crude soybean oil, and crude sunflower oil has been halved from 20% to 10%.

This policy adjustment aims to lower the landed cost of essential cooking oils, thereby reducing retail prices and easing inflationary pressures.

The decision is also expected to enhance domestic refining capacities by increasing the duty differential between crude and refined oils to 19.25%, promoting the "Make in India" initiative.

Sudhakar Desai, President of the Indian Vegetable Oil Producers' Associati...