India is examining whether there is a need to raise palm oil import taxes, government and trade sources said, as part of efforts by the world's biggest vegetable oil importer to help millions of its farmers reeling from lower oilseed prices. Earlier this year, India abolished the basic import tax on crude palm oil to keep a lid on prices. …
The story so far: Indonesia, the world’s biggest producer, exporter, and consumer of palm oil, would be banning all exports of the commodity and its raw materials from April 28 to reduce domestic shortages of cooking oil and bring down its skyrocketing prices, the country’s President, Joko Widodo, announced on Friday, April 22, 2022. Palm oil is the world’s most …
