India Weighing Edible Oil Import Duty Hike to Support Farmers

India is considering a request by the domestic vegetable oil industry to raise import duties, potentially increasing taxes on another major commodity just after a hike in gold tariffs.

The world’s top edible oil buyer is examining whether higher taxes would help local farmers fetch better prices for their crops, according to a person familiar with the matter. No decision has been taken yet, said the person who asked not to be named as the information is confidential.

The deliberations come as the government steps up efforts to curb foreign-exchange outflows, which have put pressure on the rupee — Asia’s ...