On Saturday, Edible oil major Adani Wilmar Ltd said it has lodged a police complaint against a B2B platform for allegedly distributing counterfeit products in the name of its 'Fortune' brand.
With this reduction, the effective duty on refined edible oils stands at 13.7 per cent, including cess on social welfare. The effective duty on all major crude edible oils is 5.5 per cent.
From November 2022 to March 2023, the import of palm products sharply increased due to price parity at 43,99,128 tonnes compared to 26,53,253 tonnes in the year-ago period
In 2022-23, the oilseed exports rose by over 20 per cent to USD 1.33 billion (around Rs 10,900 crore). The main oilseeds exported by the country are groundnut, sesame, soyabean, castor, niger, and sunflower.
The reduction in the MRP is in line with fall in prices of edible oils in the global market, the company said.
Earlier, the entities were given the deadline of January 15 for correcting the labelling
Usually, India imports 'crude' soybean and sunflower oils, and not their 'refined' form. Yet, the government has reduced the duty on refined soybean and sunflower oils.
In a memorandum submitted to Union Food Secretary Sanjeev Chopra, Solvent Extractors' Association (SEA) President Ajay Jhunjhunwala said the import duty difference between RBD palmolein and Crude Palm Oil (CPO) should be...
The Solvent Extractors' Association of India (SEA) on Wednesday released the data of imports of total vegetable oils comprising edible oil and non-edible oil...
Import of edible oil has been a big part of India's increasing import bill, which subsequently weighs down on India's forex reserve
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...
The total import of vegetable oils (both edible and non-edible oils) remained lower at 9.91 lakh tonnes in June this year from 9.96 lakh tonnes in the year-ago...
The government on Wednesday directed the edible oil manufacturers to further cut the maximum retail price (MRP) of imported cooking oils by up to Rs 10 per...
From crude, metal to edible oil, prices of most commodities are dipping—a good news for India which is a net importer of commodities
As India imports more than 60 per cent of its edible oil requirement, retail prices came under pressure in the last few months taking cues from the global...
As per government data, the average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across the country since the beginning...
India’s edible oil import bill has gone beyond the humongous figure of Rs 1 lakh crore. With the government pushing for domestic production, especially of...
The prices of petrol, diesel and cooking gas are very high. All the essential commodities including textiles, pulses and edible oil have become out of reach...
As Adani Wilmar eyes domination of the domestic edible oils market, focus falls on the implications of geopolitical concerns
Refined sunflower oil constitutes 10 per cent of the country's consumption of 230-240 lakh tonnes of edible oils annually and almost 60 per cent of the demand...
Amid the ongoing tension, the Black Sea port region—which is an arterial supply route for trade from erstwhile soviet states to Europe and Asia—has also...
Industry players expect prices of cooking oils to remain stable as the supply of domestic mustard oil will improve from next month. Harvesting of mustard seeds...
Amid the escalations, edible oil prices are also likely to go up after Russian President Vladimir Putin launched military operation in Ukraine.
Ukraine and Russia are the major suppliers of sunflower oil, with India importing approximately 90 per cent of sunflower oil from Russia and Ukraine.
India imports around 90 per cent of sunflower oil from Russia and Ukraine, hence, the crisis is likely to impact prices and supply in the country.
