India Weighs Higher Edible Oil Import Duties After Gold Tariff Hike

3 articles · Updated · Bloomberg · May 18

India is examining a proposal to raise edible oil import duties, opening the door to higher taxes on another major commodity.
The review follows a request from the domestic vegetable oil industry, which argues higher import taxes could help local farmers secure better prices for their crops.
No decision has been taken, according to a person familiar with the confidential discussions.
Any move would extend India’s recent turn toward higher import levies, coming just after the government raised gold tariffs.

After a gold tariff hike hit investors, could a similar move on edible oil backfire on Indian consumers?

With low farm yields and rising demand, can new import taxes truly make India self-sufficient in edible oil?