In order to give a boost to the production of Indian edible oil industry, the Government has hiked the import duty of Crude and refined cooking oil respectively.
While the import duty of crude edible oil is hiked to 25% from the earlier 15% the import duty of refined oil is hike to 12% to the earlier 7.5%.
According to Irudayaraja, District President of Vanikar Sangagalin Kootamaippu, the retail price of Palm Olein oil would be raised to Rs.60 from the earlier Rs.55 and the retail price of Sunflower oil would be sold for Rs.80 from the earlier 75.