Ruchi Soya Jumps; India May Hike Import Taxes on Cooking Oil

Ruchi Soya Industries Ltd jumped as much as 7.3 per cent today.

Government is considering raising import taxes on crude and refined vegetable oils to protect local farmers and the refining industry, two government sources said on Monday, as purchases by the world's top importer are expected to hit a record this year.

The government could increase duties on both crude and refined vegetable oils by more than 5 percentage points, said one official who is involved in making the decision.

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