Page 3 - Edible Oil

Indonesia stuns markets by widening ban to include CPO, refined palm oil

It's back to square one for India, one of the biggest consumers of Indonesian palm oil, days after Indonesia had said the ban would exclude crude palm oil

Strong demand may bring down closing stock of major farm goods by FY23-end

Experts feel this could keep prices of major farm commodities and products dependent on them, such as poultry and meat, at an elevated level for quite some time

India urges Argentina to do away with export duty on sunflower oil

In return, New Delhi is offering import duty concession on edible oil

Indian edible oil mkt relieved, Indonesia not to ban crude palm oil export

This could also be beneficial to the Indian local refining industry as any move to curb import of refined oils boosts domestic oilseeds crushing and refining

Indonesia ban on palm oil exports starting April 28 rattles Indian markets

The country meets almost 45% of India's annual palm oil demand; media reports say ban put in place to check soaring domestic prices of the commodity

'Mayhem' ensues as Indonesia bans edible oil exports amid shortage

The shipment halt will start from April 28 and last until the government deems the shortage resolved, said President Joko Widodo in a Friday briefing.

Hike import duty gap between crude and refined palm oil: Industry

India's 60 per cent of the edible oil requirement is met through imports

SEA asks edible oil makers to refrain from raising prices

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

Govt extends stock limits on edible oils, oilseeds till December

Ministry of Consumer Affairs had imposed stock limits till March 2022, and left the decision to states to decide whether the stock limits should be based on the availability and consumption pattern

Import allowed under open general licence to check edible oil prices

Union Minister of State for Consumer Affairs, Food and Public Distribution said India imported 62.84 lakh metric tonnes (LMT) of palm oil from June 2021 to 14th March 2022.

Our vision is to cut edible oil imports totally, says Ruchi Soya

Edible oil and food products major Ruchi Soya Industries, which will launch its Rs 4,300-crore follow-on public offer in the next few days, intends to reduce its edible oil imports in 5 to 7 years

India asks Indonesia to raise palm oil supply as prices spike: Report

Ukraine and Russia accounted for nearly 13% of India's edible oil imports last year, supplying 1.6 million tonnes.

Ukraine crisis might push edible oil rates up; wheat exports could gain

Reports said Lebanon, which imports 60% wheat from Ukraine has started talks with India after the crisis

Effective duty on crude palm oil cut to 5.5% to cool edible oil prices

With edible oil prices ruling high throughout last year, the government had on multiple occasions cut import duty on palm oil to increase domestic availability.

India struggles to contain vegoil prices as Indonesia restricts exports

Mindful of an electorate that is highly sensitive to food price inflation, India's government tried to rein in domestic prices by reducing import taxes

Reducing edible oil imports

India needs a stable policy framework

Adani Wilmar finalises issue price of Rs 3,600-cr IPO at Rs 230 per share

Edible oil major Adani Wilmar on Friday finalised the issue price of its Rs 3,600 crore initial public offering (IPO) at Rs 230 per share.

Strategies to boost edible oil output won't succeed sans firm purchase plan

Despite MSP spike and higher acreage and yields, India's dependence on imported cooking media has only grown

2.4% of 4,461 different edible oils samples found to be sub-standard: FSSAI

About 2.42 per cent of the 4,461 samples of different edible oils from 587 districts and four metros are found to be non-compliant with safety parameters, food safety regulator FSSAI said on Wednesday

Major edible oil brands cut MRP by 10-15% to give relief to consumers: SEA

Major edible oil companies, including Adani Wilmar and Ruchi Soya, have reduced the maximum retail price (MRP) of their products by 10-15 per cent to provide relief to consumers, industry body SEA said on Monday. The prices have been reduced by Adani Wilmar (on Fortune brands), Ruchi Soya (Mahakosh, Sunrich, Ruchi Gold and Nutrella brands), Emami (Healthy & Tasty brands), Bunge (Dalda, Gagan, Chambal brands) and Gemini (Freedom sunflower oil brands), it said. COFCO (Nutrilive brands), Frigorifico Allana (Sunny brands), Gokul Agro (Vitalife, Mahek and Zaika brands) and others have also reduced prices, it added. "We are happy to share that our leading members have responded proactively and reducedP on edible oils marketed by them, across the board by 10-15 per cent to provide relief to consumers during the festival season," Solvent Extractors Association of India (SEA) said in a statement. With a view to providing succour to consumers, Union Food Secretary Sudhanshu Pandey had ...