The members of the oilseed industry have asked the government to increase the taxes on import on palm and other edible oils.

The industry is facing a difficult market condition due to a significant fall in global prices that affected domestic consumption. The palm oil stocks have risen in Southeast Asian countries and the prices have fallen by a fourth. This has made the conditions difficult for India as the country tries to prevent an inflow of cheap imports especially after Indonesia reduced its export taxes.

According to officials, the oilseed crushing industry in the India have asked the country's Farm Minister Sharad Pawar to impose a 10 per cent tax on imports of crude edible oil. They argue that the measure sis necessary to protect India's industry and farmers.

Farmers have been complaining about a small return due to cheap imports from palm producers Indonesia and Malaysia, and soyoil exporters Brazil and Argentina. The industry members have also asked the government to increase the import on refined edible oils from 7.5 per cent now to to 20 per cent. The import hike would protect refiners' investments in building plants to process imports of crude edible oil.