Page 3 - Edible Oil Prices

Onion, edible oil prices to cool down during festival season: Centre

The Centre estimates onion production in the kharif season to be around 4.38 million tonnes

Pass on to consumers Rs 15-20/kg benefit in edible oil prices: Govt

The cut in import duty and cess, effective from October 14, will remain in force till March 31, 2022.

Edible oil may get cheaper temporarily as Centre imposes stock holding caps

As India imports around 60% of its annual edible oil requirement, any bullishness in global markets will have an impact on domestic prices

Display edible oil prices; act against hoarding: Centre tell states

Amid edible oil prices continuing to remain high, the Centre on Friday asked states to direct retailers to prominently display the prices of all edible oil brands for the benefit of consumers and also take action against hoarding at the level of wholesalers, millers and refiners. After a meeting with states' representatives and industry stakeholders, Union Food Secretary Sudhansu Pandey also ruled imposing stock limit on traders as well as the possibility of fixing MRPs (Maximum Retail Prices) for edible oils as he emphasised that market forces will determine the rates in a good competitive environment. Pandey said the government will take a call on existing import duty regime after analysing the impact of various measures taken to reduce the prices. According to him, edible oil prices are expected to cool down with the arrival of new kharif crop by the end of this month, declining price trend in global markets and steps taken by the central government. In the last few months, the

Rats, drought and labour shortages eat into global edible oil recovery

Malaysia, the world's second-largest producer of palm oil, is facing a perfect storm of production headwinds that will likely drag global stocks to their lowest level in five years.

From households to FMCG companies, commodity inflation bites hard

The higher prices of widely used raw materials such as edible oils, pulses, television panels, and chipsets are burdening household budgets and threatening the margins of leading manufacturers

Govt's edible oil duty cut to have little impact on prices, say traders

This is because corresponding prices in the international markets have moved up, nullifying the impact of duty cut.

Edible oil industry cautions against import duty cut to cool down prices

Says move ahead of planting season could have negative impact on growers

Govt expects edible oil prices to cool off with release of imported stock

The Centre on Monday expressed hope that retail prices of edible oils would soften following the release of imported stock that was stuck at ports due to clearance issues.

Domestic edible oil prices didn't surge as much as global rates: Goyal

Union Minister for Consumer Affairs, Food and Public Distribution, Piyush Goyal, said domestic prices of edible oil haven't surged as much as global rates, which have been very high over the last year

Domestic edible oil prices not risen as much as global rates: Piyush Goyal

Domestic edible oil prices have not increased as much as international rates which have been ruling very high over the year, Food Minister Piyush Goyal said on Tuesday in Parliament.

Cong slams govt over 'skyrocketing' edible oil prices amid festival season

Congress on Wednesday alleged that the prices of edible oil are "skyrocketing" because of the "faulty" policies of the government and even the festival spirits had been dampened due to it

Edible oil import expected to fall 13% on sharp drop in consumption

Healthy oilseed output could improve domestic production of edible oil, reducing reliance on imports even further

Edible oil import in June touches 8-month high of 1.16 million tonne

In November-June period, import declined 15 per cent year-on-year

Centre asks states to bring law preventing loose edible oil sales

Consumer affairs ministry has received several complaints about adulteration. Industry experts believe loose edible oils often contains banned chemicals introduced by uscrupulous manufacturers

Low duties, inadequate incentives keep the target slippery for edible oils

India's oil marketing year runs from November to October and during 2018-19 vegetable oil imports were up 3.5 per cent to 15.55 million tonnes

India's edible oil import falls 40% in May, lowest since 2011: SEA

India, world's leading vegetable oil buyer, had imported 11.80 lakh tonnes of edible oil in May 2019.

Sharp spike in agro commodities over tepid farm output, high import prices

Threat of poor weather conditions looms. Cold wave and pest attack could damage standing Rabi crops and elevate prices across the board in 2020

Edible oil refining capacity utilisation drops below 50% as imports rise

Small and medium-sized units at risk of complete shutdown as stagnant oilseed production adds to industry's woes

Duty cut pushes up edible oil prices; up to 8% surge across all varieties

Through increase in import duty, the government aims to help domestic oilseed crushers and edible oil producers who suffered badly last year due to cheap imports