Articles for tag: Aims, Dramatically, Edible, Election, Farmers, Global, Hike, Impacting, Import, Indias, Oils, Pressures, Prices, Struggling, Support, Tax

India’s import tax hike on edible oils aims to support struggling farmers, dramatically impacting global prices amid election pressures.

India has increased import taxes on crude and refined edible oils by 20 percentage points to support local farmers facing low oilseed prices. This decision raises the total import duty on palm oil, soyoil, and sunflower oil to 27.5%, significantly impacting the prices of these oils and potentially reducing demand from overseas. The new duties ...