SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Government brings down effective duty on crude palm oil import to 5.5% to cool edible oil prices

14 Feb 2022 Evaluate

With aim to help control cooking oil prices and support domestic processing companies, the government has brought down the effective duty on crude palm oil import to 5.5 per cent from 8.25 per cent earlier. Basic customs duty is already nil on crude palm oil (CPO) and now the Central Board of Indirect Taxes and Customs (CBIC) through a notification has cut the agri infra development cess to 5 per cent from 7.5 per cent, effective from February 13. The effective import duty on crude palm oil will now come down to 5.5 per cent, from 8.25 per cent, after taking into account agri development cess and social welfare cess.

The CBIC also extended the validity of reduced import duty on crude palm oil and other crude oils by six months till September 30. Industry body SEA has been demanding that the difference of effective duty between the crude palm oil and refined palm oil should be 11 percentage points as higher imports of refined oil impacts domestic refineries. Effective import duty on refined palm oil is 13.75 per cent.

With edible oil prices ruling high throughout last year, the government had on multiple occasions cut import duty on palm oil to increase domestic availability. Solvent Extractors Association (SEA) Executive Director B B Mehta said the government has reduced the agri cess on CPO from 7.5 per cent to 5 per cent. So effective duty difference will be 8.25 (percentage points) between CPO and RBD Palmolein. Also current duty which was to revise upward from April 01 now extended up to September 30. This means effective duty on CPO, sunflower oil and soybean oil is 5.5 per cent till September 30.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×