Despite having a cost advantage, domestic crushers are not purchasing locally grown soybeans, while the country continues to meet its rising soybean oil demand through expensive imports.
Govt submission comes in response to petitions against release of GM crops owing to concerns over side-effects. New technology would increase farm productivity and income of farmers, says Centre.
Indians spending 14% more on edible oil compared to last year. Experts expect a cooldown if no shocks prevail, government says ‘situation under control’.
While retail inflation hit an 8-year high of 7.8% in April, wholesale inflation surged to a 9-year high of 15.08% on the back of elevated food and energy prices in the same month.
Survey by LocalCircles also found that 17% were cutting discretionary spending to afford the oil and 1 in 2 households are dipping into savings to buy it.
India is witnessing record-high inflation in edible oil prices. Food Secretary says country can produce up to 18-19 lakh tonnes of rice bran oil, up from current 11 LT.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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