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With reference to the crude sunflower oil, consider the following statements:
1. The Central government allowed duty-free import of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil for this year as well as 2023-24.
2. Ukraine was the world’s largest sunflower oil exporter before the Russia – Ukraine conflict began.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
With reference to the crude sunflower oil, consider the following stat...
In a bid to cool inflation in edible oils, the Centre allowed duty-free import of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil for this year as well as 2023-24.
- Retail inflation in edible oils and fats was 18.8% in March and 17.3% in April, and sunflower oil imports have been constricted due to the ongoing Russia-Ukraine conflict since February 24.
- The Finance Ministry has notified the duty structure changes which will become operational from May 25, stating that this would provide significant relief to consumers.
- Ukraine was the world’s largest sunflower oil exporter before the conflict began and India has been striving to tap alternative supplies from rival Russia and countries such as Argentina.
- Last October, the government reduced the basic import duties on edible oils amid runaway prices. The import duty on crude palm oil was slashed to 2.5%, from 10%, while those on crude soya and sunflower oils were cut to 2.5%, from 7.5%.
Hence both statements are correct.
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With reference to the crude sunflower oil, consider the following statements:1. The Central government allowed duty-free import of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil for this year as well as 2023-24.2. Ukraine was the world’s largest sunflower oil exporter before the Russia – Ukraine conflict began.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the crude sunflower oil, consider the following statements:1. The Central government allowed duty-free import of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil for this year as well as 2023-24.2. Ukraine was the world’s largest sunflower oil exporter before the Russia – Ukraine conflict began.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about With reference to the crude sunflower oil, consider the following statements:1. The Central government allowed duty-free import of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil for this year as well as 2023-24.2. Ukraine was the world’s largest sunflower oil exporter before the Russia – Ukraine conflict began.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the crude sunflower oil, consider the following statements:1. The Central government allowed duty-free import of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil for this year as well as 2023-24.2. Ukraine was the world’s largest sunflower oil exporter before the Russia – Ukraine conflict began.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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