Guwahati News Desk: In a bid to reign in a continuous rise in the cooking oil prices since the past year, The Central Government has cut off the prices on Edible oils, in the following ways :
Basic Duty cut off on Crude Palm Oil, Crude Soyabean Oil, and Crude Sunflower Oil from 2.5% to nil.
The Agri-cess on these Oils has been brought down from 20% to 7.5% for Crude Palm Oil and 5% for Crude Soyabean Oil and Crude Sunflower Oil
The basic duty on RBD Palmolein Oil, Refined Soyabean, and Refined Sunflower Oil has been slashed to 17.5% from the current 32.5%
Post reduction, the effective duty on Crude Palm Oil will be 8.25%, Crude Soyabean Oil and Crude Sunflower Oil will be 5.5% each
Major edible Oils players including Adani Willmar and Ruchi industries have cut wholesale prices by Rs. 4 -7 Per Ltr. The other players that have reduced the wholesale prices of edible oils are Gemini Edibles & Fats India, Hyderabad, Modi Naturals, Delhi, Gokul Re-foils and Solvent, Vijay Solvex, Gokul Agro-Resources, and N.K Proteins.