Edible Oils

India's palm oil promise: A 2030 blueprint to reduce import dependence

While palm oil production elsewhere in the world is conducted on large-scale plantations, it is small-scale farmers in India who are the key to boosting production

India aims to double edible oil output to cut down reliance on imports

Last month, India raised the basic import tax on crude and refined edible oils by 20 percentage points to help protect farmers struggling with lower oilseed prices

Govt asks oil firms not to hike retail prices, 3 MT of edible oil available

The government has asked edible oil processors not to hike retail prices following recent increase in import duties, as there is enough stock of cooking oils that were shipped at a lower duty. The food ministry said the stocks imported at lower duties would easily last 45-50 days, and therefore the processors should refrain from increasing maximum retail prices (MRP). Last week, the Centre implemented an increase in the basic customs duty on various edible oils to support domestic oilseed prices. Effective September 14, 2024, the basic customs duty on crude soyabean oil, crude palm oil, and crude sunflower oil has been raised to 20 per cent from nil, making the effective duty on crude oils to 27.5 per cent. Additionally, the basic customs duty on refined palm oil, refined sunflower oil, and refined soyabean oil has been increased from 12.5 per cent to 32.5 per cent, making the effective duty on refined oils to 35.75 per cent. On Tuesday, Food Secretary Sanjeev Chopra chaired a mee

India likely to plan raising vegetable oils import taxes, govt sources say

A proposal has been made by the farm ministry and a final decision will be made by the Department of Revenue, which falls under the finance ministry, said another government official

Food company Annapurna acquires 'Arati' edible oil brand for Rs 28 cr

Packaged food company Annapurna Swadisht Ltd on Wednesday announced that it has acquired the six-decade-old 'Arati' brand mustard oil from R R Proteins and Agro Ltd (RRPAL) for a consideration of Rs 28 crore. The acquisition would help the company foray into the edible oil segment and strengthen its FMCG portfolio. The estimated amount of Rs 28 crore includes the cost of acquisition of manufacturing unit and the brand, a company official said. The funding for the deal would be a combination of internal accruals and debt, he said. RRPAL has a production capacity of 9 lakh litres of oil per month, and the acquisition will enable Annapurna Swadisht to enter a new business vertical of edible oil, he said. "We believe that acquisition offers an opportunity that aligns well with the company's overall strategy of becoming a formidable player in the packaged food industry in the semi-urban and rural markets of India," Annapurna Swadisht Ltd (ASL) Managing Director Shreeram Bagla said. Th

SEA seeks import curbs on finished products to protect oleochemical sector

Edible oils industry body SEA on Monday demanded import curbs on finished products, including stearic acid and refined glycerine or impose duty with additional tariff on raw materials to safeguard the domestic industry. In a representation made to Food and Commerce Minister Piyush Goyal, Mumbai-based Solvent Extractors Association of India (SEA) said: "Domestic oleochemical industry facing severe threat due to large scale import of finished product viz. stearic acid, refined glycerine, soap noodles and oleic acid at nil duty." SEA has requested the government to take immediate steps to safeguard the interests of the domestic industry by taking some measures. "Imports of finished products like stearic acid, soap noodles, oleic acid and refined glycerine should be placed under restricted items list," it said. Or else, the government should impose import duty on these products with additional duty of 25 per cent on imported raw material like refined palm stearin, it said. That apart,

India sees 28% fall in vegetable oil imports to 1.2 mn tonnes in Jan: SEA

The country's vegetable oil imports declined by 28 per cent to 12 lakh tonnes in January from a year-ago period, industry body SEA said on Monday. Vegetable oil imports stood at 16.61 lakh tonnes in January 2023. India is a leading vegetable oil buyer in the world. In the first quarter (November-January) of the current oil year, total imports dropped 23 per cent to 36.73 lakh tonnes as against 47.73 lakh tonnes in the same quarter of previous year. According to the Solvent Extractors Association of India (SEA), about 7,82,983 tonnes of palm oil and 4,08,938 tonnes of soft oil were imported in January this year out of total vegetables oils. As on February 1, total edible oils stock stood at 26.49 lakh tonnes, down 7.64 per cent from that of the year-ago period, it said in a statement. SEA said prices of edible oils, which are currently low, may go up this year on lower production, global economic issues and supply constraints. The availability of palm oil for edible oil requireme

Govt levies 50% export duty on molasses, relief for edible oil imports

The government has imposed 50 per cent duty on exports of molasses, a by-product of sugarcane used as raw material for alcohol production, with effect from January 18. A finance ministry notification said molasses resulting from the extraction or refining of sugar will attract 50 per cent export duty. In another notification, the finance ministry extended the existing concessional duty rates on imports of crude and refined edible oils -- palm, soyabean and sunflower -- by one year till March 31, 2025. The basic import duty on refined soyabean oil and sunflower oil was cut to 12.5 per cent from 17.5 per cent , in June last year. India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soyabean from Argentina. Sunflower oil is imported from Ukraine and Russia.

SEA urges govt to hike duty difference between crude, refined palm oil

Edible oil industry body SEA has demanded that the government should increase the duty difference between crude and refined palm oil to 15 per cent from 7.5 per cent to curb imports of refined cooking oil and protect domestic players. In a letter to its members, Solvent Extractors' Association of India (SEA) President Ajay Jhunjhunwala pointed out that Indian vegetable oil (comprising of edible and non-edible oil) refining industry is "facing challenges". "The Indian edible oil Industry, with a size of Rs 3 lakh crore (USD 35 billion), holds significant importance. Over the last 12 years, Indonesia and Malaysia have imposed higher export taxes on Crude Palm Oil (CPO) compared to refined Oil to protect their refining industry. This has made refined oil cheaper, rendering Indian capacity redundant and unutilized," he said. In India, the duty differential between CPO and refined palm oil has been reduced to 7.5 per cent, "serving the interests of the refining industry in Malaysia and .

Reducing duty on refined oil imports won't cool prices: Edible oil firms

The companies said it takes about 50 days for the oils to be imported to India, during which they lose their quality and original taste

Centre reduces import duty on sunflower oil, soyabean oil to 12.5%

The step is consistent with the government's intent to curb the rise in edible oil prices in the country

SEA requests govt to clear shipments held up at ports due to customs issues

Edible oils body SEA on Wednesday said crude sunflower and soyabean oil shipments are held up at ports due to customs clearances issues and requested the government to address the matter immediately, else it may lead to shortages and rise in retail prices. The government had permitted tariff rate quota (TRQ) during the 2022-23 financial year for import of crude sunflower and soyabean oil at nil duty and the shipments were allowed for clearance till June 20, 2023, provided the 'bill of lading date' was March 31, it said. "Unfortunately, the Customs is insisting for 'Bill of Entry' and not accepting 'Bill of Lading date', hence shipments are held up since 1st April 2023," Solvent Extractors Association (SEA) President Ajay Jhunjhunwala said, and cautioned that this "may also lead to shortage and also rise in the price of edible oils." The Association has strongly taken up the issue with the food and commerce ministries and requested them to allow the shipments of these two edible oils

Edible oil import rises 8% to 1.135 mn tonnes in March: Industry body SEA

Edible oil imports rose 8 per cent year-on-year in March to 11.35 lakh tonnes, industry body SEA on Friday said and demanded that the duty difference between crude palm oil and refined palm oil should be increased to protect domestic refineries. The Solvent Extractors' Association of India (SEA) in a statement said edible oil imports rose to 11,35,600 tonnes in March from 10,51,698 tonnes in the year-ago period. Imports of non-edible oil fell to 36,693 tonnes in March from 52,872 tonnes in the same month last year. The total imports of vegetable oils (edible oils and non-edible oils) went up 6 per cent to 11,72,293 tonnes in March from 11,04,570 tonnes a year ago. From November 2022 to March 2023, imports of edible oils rose to 69,80,365 tonnes from 56,42,918 tonnes in the corresponding period of the previous oil marketing year. The oil marketing year runs from November to October. Imports of non-edible oils fell to 79,828 tonnes in the first five months of the 2022-23 oil year f

Mustard prices tumble under weight of heavy arrivals, cheap imported oil

Earlier, a similar zero duty quota on the import of refined soybean oil was abolished

GM mustard (DMH-11) may not solve India's edible oil import problem: ICAR

Indian Institutions engaged in developing GM seeds for 13 crops

Reliance Retail arm takes on Tatas, ITC: Launches FMCG brand 'Independence'

Made-for-India consumer packaged goods brand Independence will roll out nationally after Gujarat unveiling

Skewing the mustard field: The Yellow Revolution's revival needed

Claims that GM mustard will lead to increased yield are incorrect; we must focus on other solutions

27% samples of edible oil, other food items in Thane found adulterated: FDA

At least 27 per cent of the 56 samples of cooking oil and other food items collected from four companies in Maharashtra's Thane district have been found adulterated or with false claims, the Food and Drug Administration (FDA) officials said. The FDA's (Foods) Joint Commissioner, S R Kekre, said the samples tested revealed that palmolein oil was mixed in products sold as sunflower and soyabean oils, rice bran oil was mixed in a product sold as mustard oil and vegetable oil was mixed in products claimed to be milk cream and ghee. Based on complaints, the FDA had carried out raids and inspected the four units located in Dahisar Mori, Bhiwandi, Kalher and Koparkhairne areas of the district, it said in a release. Kekre asked customers to be cautious while purchasing these items. The FDA was in the process of verifying as to whom the wholesalers and manufacturers had sold these adulterated products, he said. Kekre also appealed to the citizens to contact the FDA if they find any ...

Govt bats for GM mustard in SC: To make India self-sufficient in edible oil

The government said the present rate of edible oil consumption in India surpasses the domestic production rate and at present, India meets nearly 55-60% of its edible oil demand through imports

Despite direct impact, edible oil sector is divided on GM mustard approval

Even the opinion of farmers' groups seems divided after AIKS comes out in support