Page 2 - Edible Oil

Govt extends low tax on edible oil import by another year to cap prices

Traders and processors will benefit from a zero base import tax until the end of March next year, according to a finance ministry notification

Edible oil imports likely to fall 6% due to higher carryover stocks

The country is likely to import 9.5 million metric tons of palm oil next year against 10 million in 2022-23, he told a global conference on vegetable oils in Mumbai

Edible oil prices may not rise during festive season due to good supply

The prices of edible oils, however, may increase from December through April-May next year due to the impact of El Nino in oil-producing countries

India's July edible oil imports hit record at 1.76 mn metric tonnes

India's average monthly edible oil imports in 2021/22 marketing year were 1.17 mn tonnes, trade body SEA said. In June, India imported 1.3 million tonnes of edible oils

Cut edible oils MRP by Rs 8-12 per litre, in line with global market: Govt

The Centre on Friday directed edible oil associations to further reduce the maximum retail price (MRP) of major edible oils by Rs 8-12 per litre with immediate effect, in line with the global market. "Some companies which have not reduced their prices and their MRP is higher than other brands have also been advised to reduce their prices," the food ministry said after a meeting, chaired by food secretary Sanjeev Chopra, with the industry representatives. Price to distributors by the manufacturers and refiners also needs to be reduced with immediate effect so that the price drop is not diluted in any way, it said. It was also impressed upon that whenever a reduction in price to distributors is made by the manufactures/refiners, the benefit should be passed on to the consumers by the industry and the ministry may be kept informed on a regular basis, it added. With the edible oil prices continuing to show a downward trend and set to witness further reduction by the edible oil industry

FSSAI proposes to do away with Agmark registration for some edible oils

For such edible oils, only FSSAI license will be enough and a separate Agmark registration won't be required, industry players

Govt asks edible oil firms to cut cooking oil prices as global prices fall

The Centre on Thursday asked edible oil companies to cut the prices of cooking oils in line with the fall in global prices for the benefit of consumers. A major importer of edible oils, India imported cooking oils worth Rs 1.57 lakh crore during 2021-22 marketing year (November-October). It buys palm oil from Malaysia and Indonesia while soyabean oil is being imported from Argentina and Brazil. "The decline in the price of edible oils should be passed on to consumers expeditiously," Food Secretary Sanjeev Chopra said during a meeting with leading industry representatives here. Representatives from Solvent Extraction Association of India (SEA) and Indian Vegetable Oil Producers' Association (IVPA) were present at the meeting to discuss further reduction in the retail prices of cooking oils amidst a fall in the global prices, an official statement said. Mother Dairy, which sells cooking oils under Dhara brand, on Thursday said it has reduced the maximum retail prices by Rs 15-20 per

Godrej Agrovet inks pact with AP govt to set up edible oils refining plant

Godrej Agrovet Ltd has proposed to invest Rs 100 crore to set up a refining plant for edible oils in Andhra Pradesh. In a statement, the company said it has signed a Memorandum of Understanding (MoU) with the state government on the sidelines of Andhra Pradesh Global Investors Summit (APGIS) 2023. As a part of the MoU, Godrej Agrovet's oil palm business will be making an estimated investment of Rs 100 crore to set up a manufacturing facility for edible oil refinery and solvent extraction plant. The company already has 45,000 hectare area of oil palm plantation area in Andhra Pradesh (AP). The proposed new plant will have a projected refining capacity of 400 tonnes per day and will be set up in Seethanagaram, Eluru District in AP. This is company's first downstream project for value-added products in oil and fats. Balram Singh Yadav, Managing Director of Godrej Agrovet, said, "The MoU is in line with Godrej Agrovet's long-term strategy to be the catalyst in India's oil mission thro

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

30% edible oil consumption in a year from GM sources, say experts

Pro and GM groups slug it out ahead of SC hearing on GM mustard case tomorrow

Farmer groups demand end to GM mustard trials; write to PM Narendra Modi

Activists claims Centre misleading SC on GM mustard

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

Argentina stays top exporter to India since war broke out

India's edible oil import bill rises 34% to Rs 1.57 trillion, says SEA

India's edible oil import bill rose 34.18 per cent to Rs 1.57 lakh crore in the oil year ending October 2022, while in volume terms it rose 6.85 per cent to 140.3 lakh tonnes, industry body SEA said on Monday. India, the world's leading vegetable oil buyer, had imported 131.3 lakh tonnes of edible oils in the 2020-21 oil year (November-October) for Rs 1.17 lakh crore in the previous year, according to the Solvent Extractors Association of India (SEA). Import gradually increased during the first two quarters and it slowed down in the third quarter. However, it again increased in the fourth quarter due to the lifting of a ban on palm oil by Indonesia and a sharp decline in international prices which boosted buying from India, it said. According to SEA, high volatility in palm oil prices this year affected India's palm oil buying. In March-April for a brief period, palm oil was as expensive as soft oils. Its availability was further affected in May-June by Indonesia's decision to ban

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

Marico expands plant-based protein portfolio with Saffola Soya Bhurji

Product launched in Bengal, Delhi and Mumbai across general trade; will be available pan-India in phases, and across modern trade and major e-commerce platforms as well