India revises edible oil tariff values, lowers import duty in rupee terms

• Crude palm oil tariff value falls $3/t, while other edible oils rise $2-8/t
• Import duty declines by INR 152-430/t across all covered edible oils

India’s Ministry of Finance has revised tariff values for edible oils with effect from 15 August 2026 under Notification No. 70/2026-Customs (N.T.) dated 14 August 2026. The revision comes with a stronger reference exchange rate of INR 96.05/$ against INR 97.20/$ earlier, resulting in lower import duty in rupee terms across all covered products.

Palm oil

The tariff value of crude palm oil fell to $1,208/t from $1,211/t, while its effective import duty remained at 16.50%. The corresponding import duty declined to INR 19,145/t from INR 19,422/t, a reduction of INR 277/t.

For refined, bleached and deodorized (RBD) palm oil, the tariff value increased by $8/t to $1,220/t, while import duty fell by INR 224/t to INR 41,892/t. The tariff value of other palm oil increased by $2/t to $1,214/t, with import duty declining by INR 430/t to INR 41,686/t. Both refined categories carry an effective import duty of 35.75%.

Palmolein and soy oil

The tariff value of crude palmolein increased by $5/t to $1,227/t, while import duty declined by INR 152/t to INR 19,446/t. The tariff value of RBD palmolein also rose by $5/t to $1,230/t, with import duty falling by INR 332/t to INR 42,236/t.

The tariff value of other palmolein increased by $5/t to $1,229/t, while import duty declined by INR 332/t to INR 42,201/t. Crude soybean oil saw its tariff value rise by $2/t to $1,257/t, while import duty declined by INR 207/t to INR 19,921/t.

Crude palmolein and crude soybean oil carry an effective import duty of 16.50%, while RBD palmolein and other palmolein carry an effective import duty of 35.75%.

Outlook

The latest revision lowers the rupee-denominated import duty across all covered edible oils despite higher tariff values for most products. The reduction is mainly supported by the lower reference exchange rate of INR 96.05/$, which offsets the increase in tariff values for refined palm oil, palmolein and crude soybean oil. The lower import-duty burden could provide some support to edible oil import economics in the near term.