for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Money News

India cuts import tax on crude palm oil to 27.5% from 37.5% - government

FILE PHOTO: A palm oil seed is seen at a plantation in Pulau Carey, Malaysia, January 31, 2020. Picture taken January 31, 2020. REUTERS/Lim Huey Teng/File Photo

MUMBAI (Reuters) - India on Thursday slashed import tax on crude palm oil to 27.5% from 37.5%, the government said in a statement, as New Delhi tries to bring down rising food prices.

India is the world’s biggest importer of palm oil. It imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

Reporting by Rajendra Jadhav; Editing by Toby Chopra

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up