Fast-moving consumer goods (FMCG) companies such as Adani Wilmar, Gemini Edibles & Fats India and Tirupati Agritrade said prices of sunflower oil have fallen more than 10% below soybean oil prices as Ukraine is pushing a lot of sunflower oils into the Indian market. Ukraine is also offloading a lot of wheat in the global … Read more
The Centre today issued a notification exempting wholesalers and big chain retailers oilseeds and edible oils from the current stock limit order. The stock limit order was imposed last October due to increasing prices of edible oils both in international as well as domestic market. It was then extended upto 30th June, 2022 and further … Read more
A surge in sunflower oil prices after Russia’s invasion of Ukraine cut supply has proved an opportunity for producers of one of Spain’s best-known products: olive oil. Even after Spanish supermarkets limited the purchase of sunflower oil to a few bottles per person, shelves ran dry, prompting retailers to fill their shelves with the homegrown … Read more
Finance Minister Nirmala Sitharaman on Wednesday said India is looking at other countries to tap edible oil to plug any possible shortfall because of the conflict in Ukraine. India currently imports sunflower oil for cooking from Ukraine, which is a large producer of sunflower oil. “Edible oil supply, to that extent, will affect us,” she … 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
India’s palm oil imports in September more than doubled from a year ago to a record 1.4 million tonnes as buyers increased purchases of refined palm oil ahead of key festivals and to take advantage of newly lowered duties, brokers and dealers said. Higher purchases by India, the world’s biggest buyer of vegetable oils, could … Read more