India on Wednesday slashed its base import tax on crude palm oil, crude soyoil and crude sunflower oil to zero from 2.5%, as the world's biggest vegetable oil buyer tries to cool near-record price rises.

       The south Asian country also reduced Agriculture Infrastructure and Development Cess (AIDC) on crude palm oil imports to 7.5% from 20%, while AIDC on crude soyoil and crude sunflower oil reduced to 5% from 20%, the government said.

       (Reporting by Rajendra Jadhav; Editing by Louise Heavens)

       (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)