Government Urges Edible Oil Associations to Maintain MRP Amidst Duty Changes
Associations have been advised to maintain the Maximum Retail Price (MRP) of edible oils until stocks imported at lower duties are depleted. The government has raised Basic Customs Duty (BCD) on various edible oils to support domestic oilseed farmers.
Vegetable Oils Grading and Marking (Amendment) Rules, 2023
The rules aim to update and refine the regulations governing the grading and marking of vegetable oils. The new rule stipulates that vegetable oils intended for domestic trade must adhere to restrictions regarding residual levels of metal contaminants, pesticide residues, microbial requirements, crop contaminants, naturally occurring toxic substances, and other food safety requirements.
Multi-Source Edible Oils Grading and Marking Rules, 2023
The government has mandated the use of a Grade Designation Mark, referred to as the “AGMARK Insignia,” for all packaged Multi-Source Edible Oils. The Agricultural Marketing Adviser or authorized officers are responsible for approving the manner in which the Grade Designation Mark is affixed to or printed on each package.
Central Government reduces Basic Import Duty on Edible Oils
The decision comes as part of the government’s efforts to implement measures aimed at reducing the prices of Edible Oils in the domestic market. By lowering the Import Duty on Refined Sunflower Oil and Refined Soyabean Oil, the government aims to benefit consumers and ease domestic retail prices.
