Govt may raise vegetable oil import taxes again to support local farmers

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Oilseed farmers are under pressure, and they need support to maintain their interest in oilseed cultivation, said B.V.

It buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

The government would take into account the impact of the decision on food inflation, said another government source who also did not wish to be identified, citing official rules.

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Category: BusinessFinance

Markets: IndiaArgentinaBrazilIndonesiaMalaysiaThailandUkraine

Topics: Palm oil imports india India agriculture policy Rapeseed price india Oilseed farmers Edible oils india India edible oil market Government support oilseed farmers Edible oil import duties Soybean support price Soyoil import duties Soyoil price india Palm oil import duties Duty hike on oils India oil market Oilseed prices india Sunflower oil taxes Vegetable oil prices India oil imports India vegetable oil import taxes Oilseed cultivation india Food inflation india

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-21 @ 19:12:55 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 422 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 26318936

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