India unexpectedly cuts import duties on refined soybean, sunflower oils

The move to lower duties is in total contrast with the mood prevailing in the market which was expecting a duty hike

The Centre, in a late night development, lowered the import duty on refined soybean oil and refined sunflower oil to check food inflation.

The import duty on refined soybean oil has been brought down 17.5 per cent to 12.5 per cent, while that on refined sunflower oil has been brought down in