India weighs higher edible oil import duties; FMCG, grocery retailers face input cost squeeze
Government considers raising duties on palm, soybean and sunflower oil imports to shield farmers and curb forex outflows. With 60% import dependence and palm prices already up 12%, the move would lift COGS for packaged foods makers and grocery retailers, pressuring margins or forcing shelf-price hikes.
India is considering raising import duties on edible oils (palm, soybean, sunflower) to support farmers and curb forex outflows. India imports 60% of cooking oil needs; higher duties would lift input costs for FMCG and grocery retailers.