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Indians Stock Up Cooking Oil, Fuel Fearing Shortages Amid Ukraine War
Indians are stocking up vegetable oil and fuel, fearing that Russia's invasion of Ukraine may cause an edible oil shortage, while a rally in global crude oil prices may lead New Delhi to aggressively raise fuel prices as elections conclude.
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Government Raises Import Tax On Edible Oils
India doubled the import tax on crude palm oil to 30 percent, while the duty on refined palm oil has been raised to 40 percent from 25 percent earlier
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Indians Stock Up Cooking Oil, Fuel Fearing Shortages Amid Ukraine War
Indians are stocking up vegetable oil and fuel, fearing that Russia's invasion of Ukraine may cause an edible oil shortage, while a rally in global crude oil prices may lead New Delhi to aggressively raise fuel prices as elections conclude.
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Government Raises Import Tax On Edible Oils
India doubled the import tax on crude palm oil to 30 percent, while the duty on refined palm oil has been raised to 40 percent from 25 percent earlier
