India said on April 16 it has asked state-run firms to import one million tonnes of edible oils to improve supplies and allayed fears of shortages in cereals in Asia’s third-largest economy. The government has over the past few weeks cut import duties on edible oils and banned non-basmati rice exports to increase local supplies and tame inflation that hit a three-year high of 7.41 percent in late March. India, the world’s biggest buyer of vegetable oils after China, imported 421,686 tonnes of the commodity in March, almost a third more than a year earlier, according to a leading trade body. (Reuters)

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