Sharp fall in local prices of oilseeds coupled with depreciation of rupees has resulted in a jump of 150% in year-on-year export of oilmeals in November 2022 over the corresponding month of previous year. Export of rapeseed meal in the first 8 months has set a record by breaking previous high of 2011-12 fiscal, said … Read more
The central government has reduced agri-cess for crude palm oil (CPO) from 7.5% to 5% with effect from February 12, it said. “Post reduction of the agri-cess, the import tax gap between CPO and Refined Palm Oil has increased to 8.25%, ” it said in a statement. It has also invited industry players for a … Read more
Edible oil prices in India are expected to fall if China reduces imports of palm oil, as it has indicated. Prices of edible oils have gone up 40-50% in the past eight months, pinching the pockets of consumers amid the Covid-19-induced economic slowdown. China is expected to lower its palm oil purchases in the 2021-22 … Read more
Wholesale onion prices this month are ruling 25% to 30% higher than in January. Prices of pulses and wholesale edible oil, too, have increased helped by government measures to boost farmers’ income such as import restrictions and procurement at minimum support prices. Prices of masur (lentil) and urad have increased by 10% over January, while … Read more