Page 2 - Edible Oils

Govt levies 50% export duty on molasses, relief for edible oil imports

The government has imposed 50 per cent duty on exports of molasses, a by-product of sugarcane used as raw material for alcohol production, with effect from January 18. A finance ministry notification said molasses resulting from the extraction or refining of sugar will attract 50 per cent export duty. In another notification, the finance ministry extended the existing concessional duty rates on imports of crude and refined edible oils -- palm, soyabean and sunflower -- by one year till March 31, 2025. The basic import duty on refined soyabean oil and sunflower oil was cut to 12.5 per cent from 17.5 per cent , in June last year. India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soyabean from Argentina. Sunflower oil is imported from Ukraine and Russia.

SEA urges govt to hike duty difference between crude, refined palm oil

Edible oil industry body SEA has demanded that the government should increase the duty difference between crude and refined palm oil to 15 per cent from 7.5 per cent to curb imports of refined cooking oil and protect domestic players. In a letter to its members, Solvent Extractors' Association of India (SEA) President Ajay Jhunjhunwala pointed out that Indian vegetable oil (comprising of edible and non-edible oil) refining industry is "facing challenges". "The Indian edible oil Industry, with a size of Rs 3 lakh crore (USD 35 billion), holds significant importance. Over the last 12 years, Indonesia and Malaysia have imposed higher export taxes on Crude Palm Oil (CPO) compared to refined Oil to protect their refining industry. This has made refined oil cheaper, rendering Indian capacity redundant and unutilized," he said. In India, the duty differential between CPO and refined palm oil has been reduced to 7.5 per cent, "serving the interests of the refining industry in Malaysia and .

Reducing duty on refined oil imports won't cool prices: Edible oil firms

The companies said it takes about 50 days for the oils to be imported to India, during which they lose their quality and original taste

Centre reduces import duty on sunflower oil, soyabean oil to 12.5%

The step is consistent with the government's intent to curb the rise in edible oil prices in the country

SEA requests govt to clear shipments held up at ports due to customs issues

Edible oils body SEA on Wednesday said crude sunflower and soyabean oil shipments are held up at ports due to customs clearances issues and requested the government to address the matter immediately, else it may lead to shortages and rise in retail prices. The government had permitted tariff rate quota (TRQ) during the 2022-23 financial year for import of crude sunflower and soyabean oil at nil duty and the shipments were allowed for clearance till June 20, 2023, provided the 'bill of lading date' was March 31, it said. "Unfortunately, the Customs is insisting for 'Bill of Entry' and not accepting 'Bill of Lading date', hence shipments are held up since 1st April 2023," Solvent Extractors Association (SEA) President Ajay Jhunjhunwala said, and cautioned that this "may also lead to shortage and also rise in the price of edible oils." The Association has strongly taken up the issue with the food and commerce ministries and requested them to allow the shipments of these two edible oils

Edible oil import rises 8% to 1.135 mn tonnes in March: Industry body SEA

Edible oil imports rose 8 per cent year-on-year in March to 11.35 lakh tonnes, industry body SEA on Friday said and demanded that the duty difference between crude palm oil and refined palm oil should be increased to protect domestic refineries. The Solvent Extractors' Association of India (SEA) in a statement said edible oil imports rose to 11,35,600 tonnes in March from 10,51,698 tonnes in the year-ago period. Imports of non-edible oil fell to 36,693 tonnes in March from 52,872 tonnes in the same month last year. The total imports of vegetable oils (edible oils and non-edible oils) went up 6 per cent to 11,72,293 tonnes in March from 11,04,570 tonnes a year ago. From November 2022 to March 2023, imports of edible oils rose to 69,80,365 tonnes from 56,42,918 tonnes in the corresponding period of the previous oil marketing year. The oil marketing year runs from November to October. Imports of non-edible oils fell to 79,828 tonnes in the first five months of the 2022-23 oil year f

Mustard prices tumble under weight of heavy arrivals, cheap imported oil

Earlier, a similar zero duty quota on the import of refined soybean oil was abolished

GM mustard (DMH-11) may not solve India's edible oil import problem: ICAR

Indian Institutions engaged in developing GM seeds for 13 crops

Reliance Retail arm takes on Tatas, ITC: Launches FMCG brand 'Independence'

Made-for-India consumer packaged goods brand Independence will roll out nationally after Gujarat unveiling

Skewing the mustard field: The Yellow Revolution's revival needed

Claims that GM mustard will lead to increased yield are incorrect; we must focus on other solutions

27% samples of edible oil, other food items in Thane found adulterated: FDA

At least 27 per cent of the 56 samples of cooking oil and other food items collected from four companies in Maharashtra's Thane district have been found adulterated or with false claims, the Food and Drug Administration (FDA) officials said. The FDA's (Foods) Joint Commissioner, S R Kekre, said the samples tested revealed that palmolein oil was mixed in products sold as sunflower and soyabean oils, rice bran oil was mixed in a product sold as mustard oil and vegetable oil was mixed in products claimed to be milk cream and ghee. Based on complaints, the FDA had carried out raids and inspected the four units located in Dahisar Mori, Bhiwandi, Kalher and Koparkhairne areas of the district, it said in a release. Kekre asked customers to be cautious while purchasing these items. The FDA was in the process of verifying as to whom the wholesalers and manufacturers had sold these adulterated products, he said. Kekre also appealed to the citizens to contact the FDA if they find any ...

Govt bats for GM mustard in SC: To make India self-sufficient in edible oil

The government said the present rate of edible oil consumption in India surpasses the domestic production rate and at present, India meets nearly 55-60% of its edible oil demand through imports

Despite direct impact, edible oil sector is divided on GM mustard approval

Even the opinion of farmers' groups seems divided after AIKS comes out in support

Concessional import duties on edible oils in place till March 2023

Concessional import duties on specified edible oils are in place till March 2023, the food ministry said on Sunday. This decision was taken on August 31, 2022 by the Central Board of Indirect Taxes and Customs (CBIC) in order to boost domestic supply and keeping retail prices under control. The food ministry in its latest statement said that the CBIC's decision of extending existing concessional import duties on specified edible oils is in place till March 2023. "The concessional customs duty on edible oil import has been extended by another 6 months, which means that the new deadline will now be March 2023," the statement said. The ministry also said that domestic edible oil prices have been on a declining trend driven by a fall in global prices. With falling global rates and lower import duties, retail prices of edible oils have fallen considerably in India. According to the statement, the current duty structure on crude palm oil, RBD Palmolein, RBD palm oil, crude soybean oil,

Edible oil shares in focus: AWL, Patanjali Foods freeze at 5% upper circuit

Adani Wilmar has regained Rs 1-trillion market capitalisation, while Patanjali Foods' market cap crossed Rs 50,000 crore today

Edible oil imports surge 35% in Aug as share of Russia, Argentina rises

RBD palmolein now constitute 12% of total imports of edible oils against 2% last year

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

Farm to Fork: Food firms wait for commodity prices to cool further

The second of a four-part series focuses on how food companies are yet to pass on the benefit of the decline in input prices to consumers

'How will import duty cut on two edible oil varieties help boost supply'

According to official sources, Food Secretary has written to the SEA, Indian Vegetable Oil Producers Association (IVPA) and Soybean Processors Association of India (SOPA) in this regard

Mother Dairy cuts prices of soyabean, rice bran oils by up to Rs 15/litre

Mother Dairy, which is one of the leading milk suppliers in Delhi-NCR, sells edible oils under the Dhara brand