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Page 3 - Edible Oil

Customs, excise mop-up likely to see Rs 1-trillion shortfall in FY23

Duty cuts on edible oil, petro products to blame; may not hit overall collection

Customs, excise mop-up likely to see Rs 1-trillion shortfall in FY23
Updated On : 31 Oct 2022 | 11:28 PM IST

Here's why Adani Wilmar expects Q2 revenue growth in low single digit

Edible oil major Adani Wilmar on Wednesday said the company's overall revenue in the July-September quarter will annually grow by low single-digit amid a fall in rates of edible oils. Adani Wilmar markets its edible oils and other food items under the Fortune brand. In a regulatory filing, the company shared a preliminary update on the standalone performance during the quarter ended September. "Multiple macro challenges continued to impact the business in the quarter gone by owing to domestic and global cues, continued geo-political standoff, rising interest rates, slow uptick in the rural demand and delayed withdrawal of monsoon in major parts of India," it said. Adani Wilmar said the company is witnessing some positive signs of recovery, with softening of commodity prices and higher foodgrain production estimates for the last crop year. In edible oil segment, the second quarter essentially absorbed the market shocks of high inflation followed by sharp decline in prices. In view

Here's why Adani Wilmar expects Q2 revenue growth in low single digit
Updated On : 12 Oct 2022 | 10:27 PM IST

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 makers to remove packing temp details to curb unfair practices
Updated On : 25 Aug 2022 | 4:48 PM IST

Self-sufficiency in foodgrain shows India can reduce imports: PM Modi

Government encourages farmers to diversify crops, but doing away with imported oilseeds and pulses challenging

Self-sufficiency in foodgrain shows India can reduce imports: PM Modi
Updated On : 15 Aug 2022 | 10:39 PM IST

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.

Edible oil July imports rise 31% to 1.2 MT amid fall in global prices
Updated On : 12 Aug 2022 | 7:33 PM IST

Will edible oil stocks run out of steam?

The govt has directed edible oil suppliers to cut prices by as much as Rs 40 per litre to bring down inflation. Will players like Adani Wilmar and Patanjali Foods bear the brunt? Let us find out

Will edible oil stocks run out of steam?
Updated On : 12 Aug 2022 | 7:00 AM IST

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

Edible oil makers asked to remove packaging temperature from the labels
Updated On : 22 Jul 2022 | 2:58 PM IST

Emami Agrotech enters spice business, eyes Rs 700-1,000 cr revenue in 5 yrs

Mantra Spices brand includes turmeric, chilli, cumin and coriander powders, and a range of blended masalas; firm plans to tap 200,000 outlets by this year end, 500,000 in next three years

Emami Agrotech enters spice business, eyes Rs 700-1,000 cr revenue in 5 yrs
Updated On : 21 Jul 2022 | 1:08 AM IST

Adani Wilmar's 'Fortune' cuts prices of edible oil by up to Rs 30 per litre

Edible oil firm Adani Wilmar, which sells its products under Fortune brand, on Monday announced reduction in cooking oil prices by up to Rs 30 per litre amid fall in global prices. The maximum reduction has been done in soyabean oil. The stocks with new prices will reach market soon. On February 7, Mother Dairy, which sells edible oils under the Dhara brand, had cut prices of soyabean and rice bran oils by up to Rs 14 per litre. The food ministry had called a meeting on July 6 to discuss edible oil prices and directed edible oil firms to pass on the benefits of fall in global cooking oil prices to consumers. "In continuation to the global price reduction and the government's effort to pass on the benefits of reduced edible oil prices to consumers, Adani Wilmar has further slashed edible oil prices from the last month's reduction effected by the company," a company statement said. Fortune soyabean oil price has been revised to Rs 165 per litre from Rs 195 per litre. The sunflower

Adani Wilmar's 'Fortune' cuts prices of edible oil by up to Rs 30 per litre
Updated On : 18 Jul 2022 | 11:48 PM IST

Amid falling global prices, edible oil players see demand uptick

Inflationary trends led by edible oil prices had hurt both household and industrial demand for soft and hard oils in Q1

Amid falling global prices, edible oil players see demand uptick
Updated On : 11 Jul 2022 | 2:27 PM IST

Top headlines: Capex distribution rules, Edible oil prices fall, and more

Business Standard brings you the top headlines at this hour

Top headlines: Capex distribution rules, Edible oil prices fall, and more
Updated On : 07 Jul 2022 | 9:33 AM IST

Edible oil prices will soften by Rs 15/litre in a few weeks: Industry

Decision arrived at today during a meeting between industry players & officials

Edible oil prices will soften by Rs 15/litre in a few weeks: Industry
Updated On : 07 Jul 2022 | 12:42 AM IST

Food ministry calls meeting of edible oil firms to reduce retail prices

The food ministry has called a meeting on Wednesday with edible oil industry bodies and manufacturers to discuss reduction in the retail prices of cooking oils amid a fall in global prices

Food ministry calls meeting of edible oil firms to reduce retail prices
Updated On : 06 Jul 2022 | 1:43 AM IST

Edible oil brand Gulab Oils eyes Rs 5,000 crore turnover in four years

Plans to enter ten states from four currently, expand capacity 10-fold to 1,000 tonnes a day and make additions to product portfolio

Edible oil brand Gulab Oils eyes Rs 5,000 crore turnover in four years
Updated On : 28 Jun 2022 | 6:29 PM IST

Humble rice bran becomes hot commodity as India scours for edible oils

Rice bran prices have jumped to 30,000 rupees to 36,000 rupees per tonne compared with paddy prices of around 19,000 rupees, which is milled for rice extraction

Humble rice bran becomes hot commodity as India scours for edible oils
Updated On : 24 Jun 2022 | 10:48 AM IST

Plenty of gaps in food inflation control measures, complain industry bodies

They say some measures have spawned malpractices on the part of exporters, others have been partial to a certain section of traders

Plenty of gaps in food inflation control measures, complain industry bodies
Updated On : 22 Jun 2022 | 9:49 PM IST

Edible oil relief: Shares of Adani Wilmar and Ruchi Soya Industries shed 5%

Individually, AWL was locked in the 5 per cent lower circuit band at Rs 664.95, while Ruchi Soya Industries, too, was down 5 per cent to Rs 1,045.45 on the BSE

Edible oil relief: Shares of Adani Wilmar and Ruchi Soya Industries shed 5%
Updated On : 26 May 2022 | 2:35 AM IST

Govt announces import relief for edible oil; cut in sugar exports next

Move follows ban on wheat export to rein in inflation

Govt announces import relief for edible oil; cut in sugar exports next
Updated On : 25 May 2022 | 10:17 AM IST

India looking at tapping new markets for edible oil: FM Nirmala Sitharaman

According to her, the country was facing various hurdles on import of edible oils due to the conflict

India looking at tapping new markets for edible oil: FM Nirmala Sitharaman
Updated On : 10 May 2022 | 8:53 PM IST

Indonesian crisis could spur focus on boosting local edible oil production

However, achieving self-sufficiency in edible oil will remain a distant dream unless drastic policy measures are taken

Indonesian crisis could spur focus on boosting local edible oil production
Updated On : 09 May 2022 | 11:30 PM IST