New Delhi, June 11 -- The government has cut the basic customs duty (BCD) on imported crude edible oils from 20% to 10%. This move, announced on Wednesday, aims to lower retail prices for consumers and will impact sunflower, soybean and palm oils.

According to a statement by the ministry of consumer affairs, food and public distribution, this reduction comes in response to rising global prices and follows a previous BCD hike in September 2024.

Also read: For FMCG Inc., the holy grail of volume growth is in sight

"Import duty on edible oils is one of the important factors that impacted landed cost of edible oils and thereby domestic prices. By lowering the import duty on crude oils, the government aims to reduce the landed cost and reta...