Home / Companies / News / Our vision is to cut edible oil imports totally, says Ruchi Soya

Our vision is to cut edible oil imports totally, says Ruchi Soya

Edible oil and food products major Ruchi Soya Industries, which will launch its Rs 4,300-crore follow-on public offer in the next few days, intends to reduce its edible oil imports in 5 to 7 years

Premium

Baba Ramdev addresses the media in Mumbai on Monday. Kamlesh Pednekar

3 min read Last Updated : Mar 22 2022 | 2:01 AM IST

Edible oil and food products major Ruchi Soya Industries, which will launch its Rs 4,300-crore follow-on public offer (FPO) in the next few days, intends to reduce its edible oil imports in five to seven years. The company plans to start its own plantations, mainly in the North-East.

This move by Ruchi Soya will eventually increase India’s area under cultivation for oilseeds, said Baba Ramdev, non-executive director of Ruchi Soya, on Monday.

India currently imports 65 per cent of its edible oil requirements worth Rs 1.5 trillion from overseas and Ruchi Soya wants to replace this with its own production

Topics : Ruchi Soya Baba Ramdev edible oil Patanjali

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in