India allows tariff-free imports of crude soyabean and sunflower oils during this financial year and the next.

The Indian government on Tuesday allowed duty-free imports of crude soybean and sunflower oils during this financial year and the next (2022-23, 2023-24). The tax waiver will be subject to an annual cap of 2 million tonnes for each oil, which will be more than enough to meet the needs of domestic refineries and facilitate supply in the domestic market. The measure is taken with the aim of controlling inflation.