Page 7 - Edible Oil

Crude edible oil imports rise as global price fall boosts refinery margins

Prices have fallen by 11-25% abroad over the past year, due to excess supply and also reduced demand from India, one of the largest players

Edible oil prices to remain firm on rising import cost, low inventory

The ongoing trade war between China and United States has lowered export of edible oil from producing countries, resulting into a threat of inflation inimport-reliantt countries

DRI's NOC a must for duty-free import of edible oil from Bangladesh

Bangladesh was found to be violating the rules of origin under the South Asian Free Trade Area (SAFTA) rules and regulations

Edible oil import likely to fall first time in 7 years on duty hike

Despite 11 per cent jump in oil imports in August, the overall trend has reversed

Need to evaluate free edible oil import

The surge in imports has several implications that require a new look at the tariff policy for edible oil

Bulk exports of edible oil unviable; groundnut oil may find some takers

If there is, however, a scarcity of edible oil in the country, the government might rethink its policy

India's edible oil market crossed Rs 1.3 trillion mark in 2017: Research

Edible oil formed over 30 per cent of the Rs 4.34 trillion packaged foods market in India, compared to the 8.8 per cent share held by rice, pasta and noodles

Govt raises import duty on palm oil, soyoil to support farmers

World's biggest importer of edible oils also raised the import tax on crude soyoil to 30%

Slipping on edible oil

India must address its over-dependence on imports

Edible oil output to be around 11 mn tn in 2021-22: Icra

The total edible oil production stood at 8 mn tonne in FY17, ICRA said in a report

Make it palatable

Import duty structure for edible oil needs correction

Refined edible oil import surges in May

Monthly import of refined edible oil surged last month, to 294,409 tonnes, about 22 per cent of the overall import of 1.03 million tonnes. After a high of 245,554 tonnes in December 2016, refined oil import fell to 196,623 tonnes in January, 20-21 per cent of the entire import of edible oil."Refined edible oil (refined, bleached and diodised or RBD) import into India started increasing thereafter, following export duty levy by the governments of Indonesia and Malaysia, which made import of crude palm oil (CPO) costlier than refined oil," said B V Mehta, executive director of the Solvent Extractors' Association of India. To promote local processing industry, the two governments had levied an export duty of four per cent on RBD and 12 per cent on CPO. With this, the duty differential of 7.5 per cent into India got nullified, making the import of RBD into India eventually cheaper than CPO. The industry, therefore, has urged the government to keep the duty differential between RBD and CPO

Profit margins draw edible oil makers to the premium segment

Premium oils category margins are around 25%, compared with 10% for conventional oils

Edible oil processors upbeat on govt move

The area under palm plantations is likely to increase significantly in the coming years, with the government's relaxation in norms for subsidy and foreign direct investment (FDI), to promote sourcing of vegetable oil from domestic sources.There are only a few large corporate entities involved in palm plantation, due to a long gestation period and the economic value. Normally, the first palm fruit can be obtained only after at least three years of planting. Therefore, only large corporates with deep pockets like Godrej Agrovet and Ruchi Soya Industries have evinced interest.Consequently, the actual plantations have never achieved more than half the area targeted by the government. Automatically, therefore, the release of subsidy never exceeded half the allocation under this category. Dependence on imported vegetable oils (largely crude palm oil) continues to ben 55-60 per cent, on weak domestic investment in palm plantings and harvesting."These far-sighted steps will have benefits ...

Nine years after ban, govt allows export of edible oil in bulk

In an encouraging move, the government of India has allowed exports of select edible oils in bulk effective immediately.In a notification dated Monday, the Director General of Foreign Trade (DGFT) said, "Exports of groundnut oil, sesame oil, soybean oil and maize (corn) oil in bulk, irrespective of any pack size, has been exempted from the prohibition on export of edible oil." This means, nine year old ban on the exports of their exports was lifted from Monday. Until now, exports of select edible oils were allowed only in consumer pack of upto 5 kgs.The move is expected to allow better realisation for oil producers which improve their capability to pay higher prices for oilseeds. Ultimately, better realisation would help farmers bring in additional area resulting into proportionate decline in India's import dependence on edible oil. India meets around 60 per cent of its edible oil demand, to the tune of 24 million tonnes, through imports."It is a welcome move by the government as ...

Edible oil consumers buy cheaper, smaller packs post demonetisation

Consumer behaviour shifts to price consciousness after note-ban

Edible oil tax slab may be revenue-neutral

Edible oil is in the essential commodity category, which attracts the lowest GST rate of 5%

Edible oil refineries plead for help

RBD import rises 74% in Nov'15-Aug'16; to set new record this year

Andhra removes incentives for edible oil refiners at ports

Complains of excess capacity

Edible oil import growth likely slow at 10%

Higher import in previous year would help control prices of cooking oil