India Weighing Edible Oil Import Duty Hike to Support Farmers

India is considering a request by the domestic vegetable oil industry to raise import duties, potentially increasing taxes on another major commodity just after a hike in gold tariffs.

The world’s top edible oil buyer is examining whether higher taxes would help local farmers fetch better prices for their crops, according to a person familiar with the matter. No decision has been taken yet, said the person who asked not to be named as the information is confidential.