28/09/2010 (Bloomberg) - India, the world’s second-biggest cooking oil consumer, may extend duty-free imports of crude palm and soybean oils by a further 12 months as it seeks to control domestic prices, two government officials said.

A group of ministers may consider the proposal from the food ministry as early as today, said the officials, who declined to be identified as the information isn’t public.

India abolished the import duty on crude palm oil in April 2008, and in March 2009 scrapped a 20 percent levy on purchases of crude soybean oil. Both measures are due for review Sept. 30.

The country buys palm oil from Indonesia and Malaysia, and soybean oil from Argentina and Brazil.