Page 5 - Edible Oil Market

Edible oil July imports rise 31% to 1.2 MT amid fall in global prices

The Solvent Extractors' Association of India (SEA) said the import of vegetable oils, comprising edible and non-edible oils, in July this year rose 24 per cent to 1,214,353 tonnes.

India's July soyoil imports jump to record on duty free buying-dealers

MUMBAI (Reuters) - India's soyoil imports in July more than doubled from a month ago to a record high as refiners ramped up purchases to take advantage of New Delhi's move to allow duty free imports of the vegetable oil to calm all-time high prices, five dealers said.

Rupee's sharp fall against dollar not a worry for edible oil manufacturers

The rupee on July 21 hit a low of 80.06 per dollar in intraday trade but it bounced back to close at 79.99

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

Emami Agrotech enters spice business, eyes Rs 700-1,000 cr revenue in 5 yrs

Mantra Spices brand includes turmeric, chilli, cumin and coriander powders, and a range of blended masalas; firm plans to tap 200,000 outlets by this year end, 500,000 in next three years

Adani Wilmar's 'Fortune' cuts prices of edible oil by up to Rs 30 per litre

Edible oil firm Adani Wilmar, which sells its products under Fortune brand, on Monday announced reduction in cooking oil prices by up to Rs 30 per litre amid fall in global prices. The maximum reduction has been done in soyabean oil. The stocks with new prices will reach market soon. On February 7, Mother Dairy, which sells edible oils under the Dhara brand, had cut prices of soyabean and rice bran oils by up to Rs 14 per litre. The food ministry had called a meeting on July 6 to discuss edible oil prices and directed edible oil firms to pass on the benefits of fall in global cooking oil prices to consumers. "In continuation to the global price reduction and the government's effort to pass on the benefits of reduced edible oil prices to consumers, Adani Wilmar has further slashed edible oil prices from the last month's reduction effected by the company," a company statement said. Fortune soyabean oil price has been revised to Rs 165 per litre from Rs 195 per litre. The sunflower

Marico sees better margin in H2FY23 on likely cooling of commodity prices

FMCG firm Marico expects demand and margin trends to improve towards second half of FY23 on likely easing of crude and edible oil prices in next few months, said the latest annual report

Amid falling global prices, edible oil players see demand uptick

Inflationary trends led by edible oil prices had hurt both household and industrial demand for soft and hard oils in Q1

Lower edible oil price by Rs 15 with immediate effect: Govt to associations

It has also advised that the price to distributors by the manufacturers and refiners needs to be reduced immediately so that the price drop is not diluted in any way.

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

Humble rice bran becomes hot commodity as India scours for edible oils

Rice bran prices have jumped to 30,000 rupees to 36,000 rupees per tonne compared with paddy prices of around 19,000 rupees, which is milled for rice extraction

Govt allows duty-free import of 2 mn MT of crude soyabean, sunflower oil

The duty-free import of 2 mn MT per year will be applicable for two FYs (2022-23, 2023-24) for crude soyabean oil and crude sunflower oil, the Finance Ministry said in a notification

India considers tax cut on soybean and sunflower oil to cool prices: Report

Curbing the tax could be one of the limited options available for the government to reduce surging vegetable oil prices in the world's second most-populous nation

Indonesian export ban brings India's edible oil dependency back in focus

Indonesia's ban on palm oil exports has refocused attention on the efficacy of the government's policy to boost domestic production

India's edible oil imports to fall for 3rd straight year on record prices

The world's biggest importer of edible oils is likely to make overseas purchases of 12.9 million tonnes in the 2021/22 marketing year ending on Oct. 31

Adani Wilmar down for 8th straight day; slips 34% from 52-wk high level

Post the sharp share price rally since listing, brokerage firm JPMorgan find the stock's risk-reward unattractive. Analysts have downgraded their stance to 'underweight' with a target price of Rs 525.

India braces for sharp rise in edible oil rates, but spike could be short

Indonesia has banned palm oil exports, but it has to liquidate stockpile and demand could be met from other sources.

Your shopping bill to get even higher. Blame Indonesia's palm oil ban

The move adds to the impact of Russia's invasion of Ukraine, which plunged the global edible oil market into disarray.

Indonesia stuns markets by widening ban to include CPO, refined palm oil

It's back to square one for India, one of the biggest consumers of Indonesian palm oil, days after Indonesia had said the ban would exclude crude palm oil