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Friday, April 26, 2024
TopicEdible oils

Topic: Edible oils

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

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.

Modi govt hikes rabi crops’ MSP, pulses and oilseeds see bigger jumps than wheat

MSP for mustard is up 8.6%, followed by masur (7.84%) and gram (2.54%). Wheat MSP has just risen by 2.02%, as govt attempts to encourage crop diversification.

Forget petrol & diesel, prices of edible oils have soared even higher in June, July

Edible oils have seen a sharp rise in prices in last 6 months despite govt efforts to cool off rates by reducing high tax levies. June fuel inflation was 12.68%, while edible oil inflation was at 34.78%.

Erratic monsoon hits cereal, pulses, oilseed sowing in top producing states amid inflation

Deficient rainfall has hit sowing of crops like moong, urad, and soybean, which has severely pushed up food inflation marked by high prices.

Oil price paradox: Why Modi govt is alarmed by edible oil prices but not petrol & diesel

Both the heavily imported commodities have witnessed double-digit inflation but one is set to become cheaper. 

Surge in Indonesia and Malaysia’s palm oil prices may shrink sales to India

India will shift some purchases to other edible oils this winter after palm’s surge of about 30% from last month’s low.

Palm oil producers hope India’s Diwali buying will boost their fortunes

With production in top growers climbing & prices hovering near 3-year lows, last chance to arrest palm oil’s decline is Indian demand ahead of Diwali.

On Camera

Every time the Congress thinks it has a ‘revolutionary’ idea, it shoots its own foot

From Sam Pitroda talking about inheritance tax to Goan candidate saying the Indian Constitution was 'forced' on Goa, Congress has been having its own foot-in-the-mouth moments.

JP Morgan CEO praises ‘tough leader’ Modi — ‘has taken 400 million people out of poverty’

Jamie Dimon also lauded India's Aadhaar recognition system, broad availability of banking services & country's 'unbelievable' education system & infrastructure.

Rafale to Exercise Garuda, a look at Indo-French defence ties as Chief of Defence Staff visits France

Another addition to military cooperation has been the Strategic Space Dialogue, inaugurated in Paris in 2023. Last month, India participated as an observer to France’s AsterX.

These 6 states are key for Modi’s ‘400 paar’ target. They’re also where Opposition can stop him

While this contest looks so predictable in large swathes of our political landscape, it is also more keenly contested than 2019 in some states.