Page 2 - Edible Oils

Concessional import duties on edible oils in place till March 2023

Concessional import duties on specified edible oils are in place till March 2023, the food ministry said on Sunday. This decision was taken on August 31, 2022 by the Central Board of Indirect Taxes and Customs (CBIC) in order to boost domestic supply and keeping retail prices under control. The food ministry in its latest statement said that the CBIC's decision of extending existing concessional import duties on specified edible oils is in place till March 2023. "The concessional customs duty on edible oil import has been extended by another 6 months, which means that the new deadline will now be March 2023," the statement said. The ministry also said that domestic edible oil prices have been on a declining trend driven by a fall in global prices. With falling global rates and lower import duties, retail prices of edible oils have fallen considerably in India. According to the statement, the current duty structure on crude palm oil, RBD Palmolein, RBD palm oil, crude soybean oil,

Edible oil shares in focus: AWL, Patanjali Foods freeze at 5% upper circuit

Adani Wilmar has regained Rs 1-trillion market capitalisation, while Patanjali Foods' market cap crossed Rs 50,000 crore today

Edible oil imports surge 35% in Aug as share of Russia, Argentina rises

RBD palmolein now constitute 12% of total imports of edible oils against 2% last year

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

Farm to Fork: Food firms wait for commodity prices to cool further

The second of a four-part series focuses on how food companies are yet to pass on the benefit of the decline in input prices to consumers

'How will import duty cut on two edible oil varieties help boost supply'

According to official sources, Food Secretary has written to the SEA, Indian Vegetable Oil Producers Association (IVPA) and Soybean Processors Association of India (SOPA) in this regard

Mother Dairy cuts prices of soyabean, rice bran oils by up to Rs 15/litre

Mother Dairy, which is one of the leading milk suppliers in Delhi-NCR, sells edible oils under the Dhara brand

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 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

Top importer India may cut taxes on edible oils to cool prices: Report

India, the world's top importer of vegetable oils, is looking to cut the agriculture infrastructure and development cess on crude palm oil imports

Agri trade beyond the Ukraine war

India's chances of becoming a stable supplier of wheat are limited in the absence of a long-term policy on foodgrain exports

Ukraine war: Stock limit on edible oils, oilseeds extended up to Dec 31

In view of the ongoing Ukraine-Russia war resulting in supply restrictions, the Centre has extended the stock limits imposed on edible oils and oilseeds until December 31

No proposal at present to supply edible oils at subsidised rates: Govt

Last year, the all-lndia average domestic retail prices of groundnut oil stood at Rs 176.28 per kg as against Rs 147 per kg in 2020

States told to Implement stock limit order on oilseeds, oil to check prices

Exporters and importers have been kept outside the purview of this order with some caveats

Soaring edible oil prices deal blow to India's inflation fight

Prices of palm oil, the most-consumed edible oil in the world, have jumped 15% this year to a record

Centre further tightens stocks limits on edible oils and oilseeds

Extends curbs till June 30, specifies quantity each trader can hold in states where the quantum hasn't been laid out

Centre cuts duty on refined oils, extends import tenure of pulses

For tur and urad, the cargo should arrive in India before June 30, 2022

Retail-wholesale gap in prices of vegetables, edible oils widens in Delhi

Price difference stays largely flat for pulses during this period; govt starts cracking down on hoarders and black-marketeers

Major edible oil players cut wholesale prices by Rs 4-7 a litre

India meets more than 60 per cent of its edible oils demand through imports. Any rise in global prices has a direct impact on local prices

Wholesale prices of edible oils to be reduced by Rs 5 per kg: SEA

The average retail price of soya oil saw a marginal reduction to Rs 153 per kg from Rs 155.65 per kg in the said period