Saturday, 20 August, 2022
TopicEdible oils

Topic: Edible oils

Amid fall in global prices, Centre asks companies to cut edible oil price by up to Rs 10 per litre

PTI -
Major oil makers have promised to reduce the MRP by next week in all imported edible oils like palm oil, soyabean and sunflower oil.

Modi govt plans to cut taxes on edible oils to cool surging prices

Pratik Parija -
India, the world’s top importer of vegetable oils, is looking to cut the agriculture infrastructure and development cess on crude palm oil imports.

As cooking oil prices rise, Indian households spend more, look for cheaper alternatives, survey shows

Yimkumla Longkumer -
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.

Modi govt should cut palm oil imports, stop expanding cultivation, says RSS-linked farmer body

Shanker Arnimesh -
At 3-day meet in Bhopal, Bharatiya Kisan Sangh slammed palm oil for being ‘unhealthy’, not ‘atmanirbhar’ & overusing water. It urged govt to promote local oil seeds, demanded MSP panel.

Soaring edible oil prices threaten efforts to keep inflation under control

Pratik Parija -
Prices of palm oil are up 15% this year to a record, while rival soybean oil has jumped 12%, putting a strain on India, the top buyer of palm, soybean and sunflower oils.

India to look at Brazil, Russia for sunflower oil as invasion threat looms over Ukraine

Pratik Parija -
Ukraine is India's biggest supplier of sunflower oil. Any escalation in Russia-Ukraine tension is likely to hit edible oil prices in the country as 70% of its requirement is imported.

Oil processors want Punjab, Haryana to divert land from wheat-paddy to oilseeds, write to govt

Samyak Pandey -
According to Solvent Extractors’ Association of India, diverting land from rice & wheat production in Punjab, Haryana can increase production of edible oil in India by 25 lakh tonnes.

Govt’s plan to tackle edible oil price rise: Push for domestic rice bran oil production

Samyak Pandey -
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.

Centre imposes stock limits on edible oils to soften prices in domestic market

PTI -
As per government data, edible oil prices in the domestic markets have risen sharply by up to 46.15% in the last one year due to global factors and local tight supply situation.

Modi govt reduces custom duties on edible oils to ease elevated level of retail prices

PTI -
The base import tax on crude palm oil, crude soy oil and crude sunflower oil has been reduced to 2.5 per cent, the Finance Ministry said in a notification issued late Friday.
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