💨 Abstract

India is likely to increase import taxes on vegetable oils for the second time in six months to aid struggling oilseed farmers dealing with low domestic oilseed prices. The hike could boost local oil and oilseed prices, potentially dampening demand and reducing overseas purchases of palm oil, soyoil, and sunflower oil. The exact amount of the hike has not been decided yet. The decision could impact food inflation.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖