24-Sep-2026      16:39

Ministry of finance slashes customs duty for edible oils

The Ministry of Finance has adjusted Customs duties on edible oils, effective September 24, 2026. A 5.5% reduction in total duty applies to crude palm oil, RBD Palm oil, RBD Palmolein, crude soyabean oil, and refined soyabean oil, establishing total duties at 11%, 30.25%, 30.25%, 11% and 30.25%, respectively. Duties on crude sunflower oil and refined sunflower oil have been decreased by 11%, now standing at 5.50% and 24.75%, respectively. The Solvent Extractors Association has acknowledged this as a measured action to mitigate escalating prices in anticipation of the festive period.

News source: Capital Market - Live News