India has cut the basic customs import duty on crude and refined palm, soybean, and sunflower oils, according to a government notification issued late Wednesday.

The import duty on crude palm oil and crude soybean oil was reduced to 5% from 10%, while the rate on refined palm oil and refined soybean oil was lowered to 27.5% from 32.5%.

For sunflower oil, the duty on crude oil was cut to nil from 10%, while the rate on refined oil was reduced to 22.5% from 32.5%.

The cuts are expected to lower edible oil prices and support consumption during the major religious festivals from September to November.