The current oil year (November 2022–October 2023), according to trade group Solvent Extractors Association of India (SEA), is expected to see a record 17 million tonne (MT) of edible oil imports into India. Exports totaled 14 MT last year. As of 2016–17, when the nation imported 15.1 MT of oil, the volume of imported cooking…
Major producers of edible oils, including Adani Wilmar and Emami, have started lowering the cost of their most popular products as a way of passing on the benefits of the decline in prices elsewhere to customers. At a meeting with business organisations last week, the food ministry pushed producers to lower costs. The maximum retail…
With effect for the 2023–24 fiscal year, the Union Commerce Ministry has discontinued duty-free imports of soyabean oil under the tariff rate quota (TRQ) regime. Sunflower oil imports, however, will continue to be duty-free under the TRQ system. According to the notification, imports of soyabean oil are still permitted under the TRQ till June 30….
The country’s mustard production may rise this year and surpass yearly demand for the first time since the nation became reliant on imports of edible oil due to a higher area and anticipated productivity growth. If the weather holds favorable for the next month, production might reach over 125 lakh tonnes (lt), an increase of…
The first month of the oil year 2022–2023 saw an increase in imports of 34.24 percent (November to October). Data from India’s Solvent Extractors’ Association show that edible oil imports rose to 15.28 lt in November 2022–23 from 11.38 lakh tonnes (lt) in November 2021–22. (SEA). India imported 9.31 lt of CPO in November, up…
Prices for groundnuts have risen to as much as Rs 2000 per 20 kg in some mandis in Gujarat due to processors and oil millers anticipating a smaller Kharif harvest of 2.5 million tonnes in the current season as opposed to over 3.5 million tonnes in the previous season. Farmers in Jamnagar district’s Hapa mandi…
The Government stated that the stock positions of wheat and rice are at favorable levels on Wednesday. In April, the level will exceed the buffer stock ceilings. However, compared to last month, the wholesale cost of wheat and rice is somewhat higher this month. As of November 15, according to Union Food Secretary Sanjeev Chopra,…
Vegetable oil producers in India are grinning once more as edible consumption has returned to pre-Covid levels. In the 2019–20 season (November–October), the average person’s consumption of edible oil fell by 7.8 percent, and the future years’ price volatility further impacted the off-take. And now for the good news for manufacturers of edible oils. Unexpectedly,…
The price of crude palm oil, which has experienced extreme volatility over the past six months, is predicted to increase by 8 to 10 percent as demand for essential edible oil rises internationally. Kadir is a member of the Malaysian delegation that will be present at the two-day Global Roundtable on the Vegetable Oil and…
The cost of importing edible oil into the nation increased by 118 percent from the 2019–20 oil season to the 2021–22 oil season (November–October). According to information provided by the Solvent Extractors’ Association of India (SEA), the value of imported edible oil increased by 34% from the season of 2020–21 to 2021–22, reaching $1.56 lakh…
