New Delhi, Sept. 24 -- India has reduced import duties on crude and refined edible oils, including palm oil, soy oil, and sunflower oil, to ease domestic prices ahead of the festive season. The government announced the changes in a notification issued late on Wednesday.

Edible oil prices in India have risen nearly 20% over the past year. The duty cut is expected to lower prices and support consumption during the major religious festivals between September and November, when demand for sweets, snacks, and fried foods typically rises, Reuters reported.

Internationally, stronger Indian buying could also support Malaysian palm oil and US soy oil futures, traders said.

The basic import duty on crude palm oil and crude soy oil has been reduc...