# India sharply raises import tax on edible oils to support farmers

> India sharply raised import tax on edible oils to support its farmers. The higher duty is expected to lift domestic edible oil prices and reduce overseas purchases of palm, soyoil and sunflower oil.

- Date: 2024-10-01 · published 2024-10-01T12:00:00.000Z
- Category: policy · region India · magnitude high
- Page: https://feedsoft.ai/events/28396-india-sharply-raises-import-tax-on-edible-oils-to-support-farmers
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A major importer's duty hike cuts demand for palm, soyoil and sunflower oil, which is bearish for those vegetable oils and feeds into meal and oil markets.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼
- SUNMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-10-12 | [Malaysia Raises Palm Oil Export Tax To 6.5% For November From 6.0% In October - Nikkei Asia](https://feedsoft.ai/events/68335-malaysia-raises-palm-oil-export-tax-to-6-5-for-november-from-6-0-in-october.md) | +0.9% | +4.1% |
| PALMOIL | 2017-08-18 | [India's refined palm oil imports to fall as duty change makes crude palm cheaper](https://feedsoft.ai/events/69561-india-s-refined-palm-oil-imports-to-fall-as-duty-change-makes-crude-palm-cheaper.md) | +1.5% | +9.4% |
| PALMOIL | 2017-02-18 | [Malaysia raises tax on palm oil for March shipments – Customs Today Newspaper](https://feedsoft.ai/events/11858-malaysia-raises-tax-on-palm-oil-for-march-shipments-customs-today-newspaper.md) | -0.9% | -5.4% |
| PALMOIL | 2020-09-08 | [Indonesia to revamp palm oil levy to support biodiesel programme](https://feedsoft.ai/events/51005-indonesia-to-revamp-palm-oil-levy-to-support-biodiesel-programme.md) | +1.1% | -4.1% |
| PALMOIL | 2017-06-16 | [Malaysia to raise CPO export tax next month \| The Star](https://feedsoft.ai/events/70365-malaysia-to-raise-cpo-export-tax-next-month-the-star.md) | -1.1% | +2.2% |
| SBO | 2022-08-30 | [Palm Oil Rises After Indonesia Raises Export Tax, Biodiesel Use](https://feedsoft.ai/events/15797-palm-oil-rises-after-indonesia-raises-export-tax-biodiesel-use.md) | +0.7% | -9.6% |
| SBO | 2017-12-03 | [Ethanol industry, farm officials support EPA’s decision on RFS](https://feedsoft.ai/events/67357-ethanol-industry-farm-officials-support-epa-s-decision-on-rfs.md) | -0.2% | -0.7% |
| SBO | 2024-12-20 | [The Farmer's Exchange Online Imports, Oversupply Threaten U.S. Biofuels Outlook](https://feedsoft.ai/events/15162-the-farmer-s-exchange-online-imports-oversupply-threaten-u-s-biofuels-outlook.md) | -0.5% | +9.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/india-raises-import-tax-edible-oils-government-order-says-2024-09-13/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.