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What percentage of the government of India has reduced the agri-cess on crude palm oil from how much percent?
A)
7.5% to 6.5%
B)
7.5% to 6%
C)
7.5% to 5%
D)
7.5% to 4%

Correct Answer :   7.5% to 5%


With a view to provide further relief to consumers and to keep in check any further rise in the prices of domestic edible oils, the Centre has reduced the agri-cess for Crude Palm Oil from 7.5 percent to 5 percent. The current basic rate of import duty of zero per cent on Crude Palm Oil, Crude Soyabean oil, and Crude Sunflower Oil up to the 30th of September this year. This will give relief to consumers and prevent a further rise in the price of domestic edible oils.
 
The 12.5 percent import duty on refined palm oils, 17.5 percent on refined soyabean oil, and 17.5 percent on refined sunflower oil will continue in effect until September 30, 2022. Furthermore, under the Essential Commodities Act of 1955, the government has set stock limit levels on edible oils and oilseeds up to June 30th of this year.

Published On : February 16, 2022
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