India's edible oil import bill surges 20%, projected to reach ₹1.75 lakh crore by 2025-26 amid rising costs and production concerns.

Higher global crude prices drove India's oil import bill 60% higher in the April-June quarter, increasing inflation and fiscal risks amid renewed Middle East supply concerns.

India's crude import bill jumped 61% to $49.8 billion in Q1 FY23, driven by sustained oil prices above $100 per barrel despite a 4% decline in import volumes.

India's edible oil imports will increase from July to October. This rise is due to slower domestic soybean and rapeseed crushing operations. Higher imports are expected to meet…