Edible Oil Market

India's edible oil imports up 12% to 1.098 million tonnes in February

India's edible oil imports rose 12 per cent year-on-year in February to 10.98 lakh tonnes on higher imports of crude palm oil, according to industry body SEA. In a statement, the Solvent Extractors' Association of India (SEA) on Wednesday said that edible oil imports rose to 10,98,475 tonnes in February from 9,83,608 tonnes in the year-ago period. Imports of non-edible oil fell to 16,006 tonnes in February from 36,389 tonnes in the same month last year. Total imports of vegetable oils (edible oils and non-edible oils) went up 9 per cent to 11,14,481 tonnes in February this year from 10,19,997 tonnes a year ago. During November 2022 to February 2023 period, imports of edible oils rose to 58,44,765 tonnes from 45,91,220 tonnes in the corresponding period of the previous oil marketing year. Oil marketing year runs from November to October. Imports of non-edible oils fell to 43,135 tonnes in the first four months of 2022-23 oil year from 99,938 tonnes in the year-ago period. Total i

SEA demands government intervention as mustard prices drop below MSP

Expressing concern over rape-mustard seed rates falling below the minimum support price (MSP), edible oil industry body SEA on Tuesday demanded the government commence procurement and restrict imports of refined palm oil as part of steps to arrest the price drop. Solvent Extractors Association of India (SEA), in a representation to both food and commerce secretaries, said mustard seed prices in the wholesale market yards have crashed below the MSP of Rs 5,450 per quintal and the arrivals are increasing on a daily basis. "Further drop in prices cannot be ruled out," SEA Executive Director B V Mehta said. He also noted that unbridled imports of refined palm oil have led to the collapse in domestic edible oil prices which is impacting the marketing of mustard seed at peak harvest time and causing distress to farmers. "We feel heavy imports of refined palmolein are neither helping our mustard farmer nor the Indian refining industry," he said. To arrest further fall in prices, SEA has

India's edible oil imports rose 33% in January, 2nd highest after Sept 2021

India's edible oil imports rose 33 per cent in January to 16.61 lakh tonnes, the highest since September 2021, driven by higher imports of sunflower oil, according to industry body SEA. Import of vegetable oils (edible and non-edible oils) in January rose 31 per cent to 16,61,750 tonnes from 12,70,728 tonnes in the same month last year. Edible oil imports rose to 16,61,750 tonnes in January -- the second highest monthly volume after September 2021 -- from 12,51,926 tonnes, while non-edible oil imports fell to nil from 18,802 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement. The total import of vegetable oils during the first three months of the oil year 2022-23 (November-October) rose 30 per cent to 47,73,419 tonnes compared to 36,71,161 tonnes in the same period last year. Edible oil imports increased to 47,46,290 tonnes during November 2022-January 2023 period of the current oil year from 36,07,612 tonnes in the year-ago period, while shipments of ..

Groundnut oil bullish but other edibles slip in absence of support: Experts

According to Desai groundnut oil prices are seeing an upward trend because groundnut is in short supply for crushing

Edible oil makers get additional 6 months to remove packing temp details

The government has given six months more time till July 15 to edible oil makers, packers and importers to mention net quantity in terms of volume and weight on the labels instead of temperature at the time of packing, as part of efforts to curb unfair business practices. Earlier, the entities were given the deadline of January 15 for correcting the labelling. "The timeline for declaring the net quantity of edible oils etc. without mentioning temperature is extended for six months, considering the request of the industries to exhaust the un-utilized packaging material," according to the latest order issued by the consumer affairs ministry. The legal metrology officers across the states have been directed to create awareness among the manufacturers, packers and importers of edible oils to pack the commodity without mentioning temperature and advise them to ensure that the quantity declared on the package is correct. Since the weight of edible oil is different at different temperature

Sunflower oil imports rise to record as Russia-Ukraine fight for mkt share

Record imports by India, the world's biggest vegetable oil importer, come as sunoil's discount to rival soyoil widened to the highest level in nine months

GM mustard (DMH-11) may not solve India's edible oil import problem: ICAR

Indian Institutions engaged in developing GM seeds for 13 crops

Skewing the mustard field: The Yellow Revolution's revival needed

Claims that GM mustard will lead to increased yield are incorrect; we must focus on other solutions

Sunflower oil shipments to India from Russia, Ukraine return to normal

Argentina stays top exporter to India since war broke out

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

GM mustard awaits a 'competent authority' as uncertainty surrounds

Uncertainty surrounds the second attempt to introduce the genetically modified oilseed

Solvent Extractors Assn seeks release of 100 kg GM mustard for this rabi

Edible oil body plans sow the seeds in 200 out of the 1,000-odd model mustard farms that it plans to set up this season

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

India palm oil imports jump to 1-year high in September as discounts widen

The September imports jumped 18% from a month ago to 1.17 million tonnes, the highest since last September, the Solvent Extractors' Association of India, a trade body based in Mumbai, said

Edible oil shares in focus: AWL, Patanjali Foods freeze at 5% upper circuit

Adani Wilmar has regained Rs 1-trillion market capitalisation, while Patanjali Foods' market cap crossed Rs 50,000 crore today

Edible oil makers to remove packing temp details to curb unfair practices

The government on Thursday directed edible oil makers, packers and importers to mention net quantity in terms of volume and weight on the labels instead of temperature at the time of packing as part of efforts to curb unfair business practices. The entities have been given time till January 15, 2023, to correct the labelling, the consumer affairs ministry said in a statement. Since the weight of edible oil is different at different temperatures, the companies have been asked to pack the commodity without mentioning temperature and to ensure that the quantity declared on the package in volume and mass should be correct, it said. The move comes amid rising consumer complaints against edible oil brands regarding unfair trade practices. Under the Legal Metrology (Packaged Commodities) Rules 2011, it is mandatory to declare the net quantity in terms of standard units of weight or measure apart from other declarations on all pre-packaged commodities in the interest of consumers. As per

Edible oil July imports rise 31% to 1.2 MT amid fall in global prices

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.

India's July soyoil imports jump to record on duty free buying-dealers

MUMBAI (Reuters) - India's soyoil imports in July more than doubled from a month ago to a record high as refiners ramped up purchases to take advantage of New Delhi's move to allow duty free imports of the vegetable oil to calm all-time high prices, five dealers said.

Rupee's sharp fall against dollar not a worry for edible oil manufacturers

The rupee on July 21 hit a low of 80.06 per dollar in intraday trade but it bounced back to close at 79.99

Edible oil makers asked to remove packaging temperature from the labels

SEA executive director BV Mehta said that several oil companies in India have been resorting to the unfair practice of packing the oil at a higher temperature to reduce the weight