Domestic Edible Oil
SEA urges govt to hike refined palm oil import duty to save local refiners
The association has argued that a 15 per cent duty difference would help reduce refined palmolein imports and replace the same with crude palm oil imports
 "SEA urges govt to hike refined palm oil import duty to save local refiners")
Despite direct impact, edible oil sector is divided on GM mustard approval
Even the opinion of farmers' groups seems divided after AIKS comes out in support
 "Despite direct impact, edible oil sector is divided on GM mustard approval")
Amid falling global prices, edible oil players see demand uptick
Inflationary trends led by edible oil prices had hurt both household and industrial demand for soft and hard oils in Q1
 "Amid falling global prices, edible oil players see demand uptick")
Indonesian crisis could spur focus on boosting local edible oil production
However, achieving self-sufficiency in edible oil will remain a distant dream unless drastic policy measures are taken
 "Indonesian crisis could spur focus on boosting local edible oil production")
About 24% Indian homes reduce edible oil consumption due to high prices
At the same time, 67% of respondents pruned spending in other areas to pay for higher edible oil prices
 "About 24% Indian homes reduce edible oil consumption due to high prices")
Domestic edible oil prices didn't surge as much as global rates: Goyal
Union Minister for Consumer Affairs, Food and Public Distribution, Piyush Goyal, said domestic prices of edible oil haven't surged as much as global rates, which have been very high over the last year
 "Domestic edible oil prices didn't surge as much as global rates: Goyal")
Low number of free-float pushes Ruchi Soya Industries to record high
The edible oil maker's market capitalisation is up nearly 300 times since the beginning of November last year and 70 times since its acquisition by Pantanjali Ayurved under the IBC
 "Low number of free-float pushes Ruchi Soya Industries to record high")
Branded edible oil reaches only a few retailers, prices up as stocks fall
With hotels and food processing units still shut, and with labour and logistics hiccups, edible oil availability in April has been 1.5 million tonnes as against the usual 2 million tonnes
 "Branded edible oil reaches only a few retailers, prices up as stocks fall")
India's edible oil imports may rise by 7.3% to record highs in FY20: Expert
Higher purchases by the world's biggest edible oil importer could support palm oil prices that are under pressure due to sluggish demand amid an expected rise in production
 "India's edible oil imports may rise by 7.3% to record highs in FY20: Expert")
Domestic edible oil producers to cut prices by 15%
For existing inventory, companies to offer discount on package's existing MRP
 "Domestic edible oil producers to cut prices by 15%")
