Import Duty on Edible Oil

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
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LOK SABHA
UNSTARRED QUESTION NO.2941

TO BE ANSWERED ON MONDAY THE 21^ST MARCH, 2022
PHALGUNA 30, 1943 (SAKA)

IMPORT DUTY ON EDIBLE OIL

2941. (a) SHRI RAKESH SINGH:

Will the Minister of FINANCE be pleased to state:

(a) whether the import duty on edible oil has been cut down in the country;

(b) if so, whether it is likely to be more beneficial to supply processed imported oil instead of refining it in the country;

(c) if so, the details thereof;

(d) whether it is likely to adversely affect the refinery industry of the country; and

(e) if so, the details thereof?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)

(a): Yes sir, the import duty has been reduced significantly on specified types of edible oil both on crude as well as refined oils.

(b), (c), (d) and (e): The decision to reduce import duty on both crude and refined edible oils was taken to reduce the burden of high prices on final consumers. Import duty structure has been prescribed in a manner that crude edible oil attracts lesser duty than the refined edible oil thereby incentivising domestic refining of imported crude oil. The custom duty rate structure of crude and refined oils after reduction is as follows:

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