India is planning to raise import taxes on vegetable oils to support local farmers. The government is considering this step to encourage farmers to grow more oilseeds and reduce India's heavy dependence on imported oils.

India is one of the world's largest buyers of vegetable oils, importing large amounts of palm oil from Indonesia and Malaysia and soybean and sunflower oils from Argentina, Brazil, and Ukraine.

However, these cheaper imports have made it difficult for Indian farmers to compete. By increasing import taxes, the government hopes to make local oilseeds more profitable, ensuring better earnings for farmers.

This decision comes at a time when global edible oil prices are unstable due to international conflicts and supply chain issues. If taxes are raised, the price of cooking oil in India may go up, which could affect consumers. However, the government believes that supporting local farmers is important for India's long-term food security.

Experts say this move could change India's edible oil market by giving local farmers more opportunities but could also impact food manufacturers who rely on imported oils. While the government has not made a final decision, discussions are ongoing, and an announcement is expected soon.

If India increases import duties, it could be a major shift in its agricultural policies, promoting self-reliance. The key question remains: Can India find the right balance between supporting farmers and keeping prices affordable for consumers?