Government cuts import duty on palm, soyabean and sunflower oils … positive for Marico, Ruchi Soya, HUL, Godrej Agrovet
Expect positive for Marico, Ruchi Soya, Godrej Agrovet, HUL after the news that the import duty on refined grades of palm oil, soybean oil and sunflower oil has been cut to 32.5% from 37.5%. In a separate notification, the government increased the agriculture infrastructure and development cess on crude palm oil to 20% from the earlier 17.5%