A government directive released on Friday states that the reduced import tariff regime on edible oils, such as refined sunflower oil and refined soybean oil, has been extended by the central government until March 25 in an effort to control food inflation. The Finance Ministry officially announced that the lower tariff, which was originally scheduled…
commodity exchange After ceasing to trade the commodity in 2009, the National Commodity and Derivatives Exchange (NCDEX) would resume offering groundnut futures contracts the following week. The trading of groundnut futures contracts will resume on June 20 and continue through the months of July through September 2023. The exchange will continue to introduce new contracts…
On the back of declining prices for manufactured goods and fuel, wholesale price-based inflation inched down to a 29-month low of 1.34 percent in March, despite rising food costs. The wholesale pricing index (WPI)-based measure of inflation has decreased for ten consecutive months, starting in March. From 3.85% in February to 14.63% in March 2022,…
Even though shipments into the country climbed by 22% during that time, the palm group of oils remained to dominate the vegetable oil import basket, making up 63% of all imports from November 2022 to March 2023 of the current oil year to October. Data from the Solvent Extractors’ Association of India (SEA) show that…
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…
In the current marketing year through August, the US Department of Agriculture (USDA) predicted a higher global production of oilseeds, but the prognosis of a 10.5 percent decline in sunflower seed in light of the Ukraine War may be cause for concern. According to the USDA, global production will total 645.61 million tonnes (mt), up…
Fast-moving consumer goods (FMCG) companies are hopeful of rural consumption improving in the coming quarters on the back of softening commodity prices, normal monsoons, and government measures. Rural volumes have largely been muted so far because of inflationary pressures impacting consumption in the regions. Commodities will have the most impact on rural volumes, according to Ritesh…
