The government's fertiliser subsidy bill for 2026-27 may surge by ₹70,000 crore to ₹2.41 lakh crore, driven by rising import costs of urea and other fertilisers amid the ongoing West Asia crisis, a senior official said on Monday.

"The subsidy bill will go up, but what percentage is something I cannot say," Aparna S Sharma, additional secretary, Department of Fertilisers, said on the sidelines of an inter-ministerial briefing on West Asia developments.

On whether the increase could be as much as ₹70,000 crore, she said, "Maybe."

The budgetary allocation for fertiliser subsidies in 2026-27 stands at ₹1.71 lakh crore.

Edible oil The government is considering a request by the domestic vegetable oil industry to raise import duties, potentially increasing taxes on another major commodity just after a hike in gold tariffs, a Bloomberg report said on Monday.

The world’s top edible oil buyer is examining whether higher taxes would help local farmers fetch better prices for their crops, according to a person familiar with the matter. No decision has been taken yet, the report said.

A United Nations gauge of global food-commodity costs climbed last month to the highest level in more than three years as the West Asia conflict disrupts supply chains, driven by higher vegetable oil, meat and cereal prices.

Palm oil, the world’s most-widely used edible oil, has surged around 12 per cent since the war began, as top producers Indonesia and Malaysia ramp up biofuel production to cushion the impact of higher energy costs. However, India's move could weigh on purchases and dampen the rally.