24/03/2008 (Reuters, India), New Delhi - The government is considering a cut in soyoil import duty, following a reduction in palmoil and other edible oil duties late last week to check inflation, a senior government source said on Monday.

"We are contemplating a cut in duty on soybean oil also. But no decision has been taken so far," a commerce ministry official, who did not wish to be identified, told reporters.

India's soyoil import duty currently stands at 40 percent.

On Thursday, the government cut the import duty on crude palm oil to 20 percent from 45 percent, while that on soyoil was left unchanged.