Edible Oil Prices

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The Solvent Extractors' Association of India (SEA) said the import of vegetable oils, comprising edible and non-edible oils, in July this year rose 24 per cent to 1,214,353 tonnes.

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The govt has directed edible oil suppliers to cut prices by as much as Rs 40 per litre to bring down inflation. Will players like Adani Wilmar and Patanjali Foods bear the brunt? Let us find out

Edible oil firm Adani Wilmar, which sells its products under Fortune brand, on Monday announced reduction in cooking oil prices by up to Rs 30 per litre amid fall in global prices. The maximum reduction has been done in soyabean oil. The stocks with new prices will reach market soon. On February 7, Mother Dairy, which sells edible oils under the Dhara brand, had cut prices of soyabean and rice bran oils by up to Rs 14 per litre. The food ministry had called a meeting on July 6 to discuss edible oil prices and directed edible oil firms to pass on the benefits of fall in global cooking oil prices to consumers. "In continuation to the global price reduction and the government's effort to pass on the benefits of reduced edible oil prices to consumers, Adani Wilmar has further slashed edible oil prices from the last month's reduction effected by the company," a company statement said. Fortune soyabean oil price has been revised to Rs 165 per litre from Rs 195 per litre. The sunflower

Inflationary trends led by edible oil prices had hurt both household and industrial demand for soft and hard oils in Q1

It has also advised that the price to distributors by the manufacturers and refiners needs to be reduced immediately so that the price drop is not diluted in any way.

Decision arrived at today during a meeting between industry players & officials

Companies have been asked to maintain uniform MRP across the country for same brand of edible oils, says Food Secretary

As per govt data, average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across country since beginning of this month and are ruling between Rs 150 and 190 per kg.

Adani Wilmar has reduced the maximum retail price (MRP) of Fortune refined Sunflower oil's 1-litre pack to Rs 210 from Rs 220, the company said in a statement.

"Pulses prices remained steady, although tur prices have moderated while masoor prices edged up. Edible oils prices registered a broad-based increase," the report said.

Indonesia has banned palm oil exports, but it has to liquidate stockpile and demand could be met from other sources.

Indonesia said on Friday that the shipment halt will start from April 28 and last until the government deems a domestic shortage resolved

At the same time, 67% of respondents pruned spending in other areas to pay for higher edible oil prices

Mumbai-based SEA also requested members to ensure the supply chain is maintained smoothly and consumers are not put to any difficulty

India imports more than 90% of its sunflower oil from Russia and Ukraine, though sunflower oil accounts for about 14% of its total edible oil imports.

Exporters and importers have been kept outside the purview of this order with some caveats

Prices of palm oil, the most-consumed edible oil in the world, have jumped 15% this year to a record

The Centre on Tuesday said retail prices of edible oils across the country are ruling higher than a year-ago period in line with the global market