Page 4 - Edible Oil

'Edible oil prices down Rs 8-10 per kg in last 30 days; may fall further'

Edible oil prices declined by Rs 8-10 per kg in last one month mainly on the back of lower import duties and may fall by Rs 3-4 per kg in coming months

Of 2.8 mn hectares, 58% potential oil palm acreage lies in 5 states: ICAR

According to officials, the new mission plans to raise oil palm cultivation to one million hectares by 2025-26 and 1.7-1.8 million hectares by 2029-30.

58% of potential oil palm acreage identified in five states: ICAR study

Govt says ICAR analysis shows oil palm requires less water than rice, banana and sugarcane; large-scale deforestation a concern

Global agri major Cargill buys edible oil refinery in Nellore for $35 mn

The investment will expand Cargill's edible oil production capacity and footprint in southern India and strengthen its existing supply chain to meet growing customer demand

Entry of competitors will open up branded oil market: Adani Wilmar CEO-MD

In a Q&A, Angshu Mallick shares the company's road map towards becoming a nationwide branded food staples consumer major

UP imposes stock limit on storage for edible oils ranging from 1-25 tons

Other states like Haryana, Gujarat and Rajasthan are in the process of issuing similar notifications.

18 states to impose stock limits on edible oils ahead of Diwali festivities

Move aimed at easing prices; decision conveyed at a meeting today; UP has already imposed limits

Centre to hold meeting with states to review edible oil stock holding order

Centre said it is monitoring prices of cooking oils as demand rises during festive season and will hold a virtual meeting with states on October 25 to review action on its stock holding limit order

Pass on to consumers Rs 15-20/kg benefit in edible oil prices: Govt

The cut in import duty and cess, effective from October 14, will remain in force till March 31, 2022.

Edible oil may get cheaper temporarily as Centre imposes stock holding caps

As India imports around 60% of its annual edible oil requirement, any bullishness in global markets will have an impact on domestic prices

World food prices rise for 2nd consecutive month, hit 10-year peak: FAO

FAO's food price index, which tracks international prices of the most globally traded food commodities, averaged 130.0 points last month, the highest reading since September 2011

Emami Agrotech eyes Rs 25,000 crore turnover by 2025 with new plant

The Rs 600 cr greenfield unit at Kandla will take Emami's total edible oil production capacity to over 12,000 TPD from 9,000 TPD earlier

Govt cuts custom duties on edible oils to check prices in festive season

The government has slashed base custom duties on palm oil, soyoil and sunflower oil to ease elevated level of edible oil prices, according to the Finance Ministry. The base import tax on crude palm oil has been reduced to 2.5 per cent from 10 per cent, while the tax on crude soyoil and crude sunflower oil has been reduced to 2.5 per cent from 7.5 per cent, the Finance Ministry said in a notification issued late on Friday. The notification came into effect from Saturday. With the reduction, the effective duty on crude palm oil, crude soyoil and crude sunflower oil will come down to 24.75 per cent whereas effective duty on refined palm oil, soyoil and sunflower oil will be 35.75 per cent, Solvent Extractors' Association of India (SEA) executive director B V Mehta told PTI. The fresh round of cut could bring down the retail prices by Rs 4-5 per litre, he said, adding, it is also generally seen that prices harden in international market after India reduces its import duty so the real .

Collect details of edible oil, oilseeds stocks to check hoarding: Centre

Centre on Thursday asked state governments to gather details about stocks of edible oils and oilseeds from traders, millers, refiners and other stockists

Hit by Covid-19, India's edible oil imports seen at lowest in six years

MUMBAI (Reuters) -India's imports of edible oil could fall to their lowest in six years, contracting for a second straight year because of the coronavirus outbreak and demand squeezed by record prices, a senior industry official said on Wednesday.

Rats, drought and labour shortages eat into global edible oil recovery

Malaysia, the world's second-largest producer of palm oil, is facing a perfect storm of production headwinds that will likely drag global stocks to their lowest level in five years.

Edible oil prices to begin softening from December: Food secretary

Retail prices of edible oils in India, which imports 60 per cent of its requirement, have shot up to 64 per cent in the past just one year, in line with the global developments.

Crop sowing lags in India on scanty rains, raises concerns over yields

A drop in production could not only limit rice and cotton exports, but also boost imports of edible oils

India reduces soyoil, sunflower oil import tax to calm prices

The tax reduction could increase imports of soyoil and sunflower oil in Sept, although a big jump is unlikely as the lower duty is only applicable for a short period until Sept. 30

PM announces Rs 11,000 cr plan to make India self-sufficient in edible oil

Targets to raise domestic palm oil production three times to 1.1 mn tonnes by 2025-26