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Business Standard

India's edible oil demand to increase despite hefty import duty hike

India is the world's largest importer and meets 70% of its vegetable oil demand through foreign sourcing

Hindustan Times

India's August wholesale inflation eases to 1.31% as fuel prices turn negative

India's wholesale price index rose 1.31% in August, below the 1.85% forecast. Food prices increased 3.26%, while vegetable prices fell 10.01%.

The Economic Times

Buy Godrej Agrovet, target price Rs 970: Motilal Oswal

Godrej Agrovet Ltd. key Products/Revenue Segments include Animal Feed, Oil Vegetable, Crop Protection, Others, Other Operating Revenue for the year ending 31-Mar-2024.

Business Standard

Soyabean oil imports hit seasonal high in Aug amid fall in local prices

India's crude soyabean oil imports reached a seasonal high of 4,54,639 tonnes in August, even as local soyabean prices have dropped below the minimum support price (MSP), industry body Solvent Extractors Association (SEA) said on Thursday. According to SEA, crude soyabean oil imports in August 2023 stood at 3,57,890 tonnes. The share of non-palm oils, including soyabean oil, made up 48 per cent of the total vegetable oil imports. The surge in imports comes as local soyabean prices dropped below the MSP, raising concerns about farmers' income with the new crop's arrival expected in the coming weeks. SEA praised the government's efforts to procure soyabean at MSP in Madhya Pradesh, Maharashtra and Karnataka, but suggested increasing import duties on crude and refined edible oils by 20 to 25 per cent across the board as a more effective solution. "This will translate into remunerative price to the farmers for his produce and the market forces will be able to pay above MSP price to the

CNBC TV18

Gopal Snacks, Bikaji Foods shares rally over 7% after GST Council cuts rates on Namkeen

It must be noted that the GST rate on namkeen or savoury items such as fruit & vegetable chips, bhuijas, snack foods etc. are already at 12%.

The Economic Times

India key market for Syngenta, focus on innovation for farmers: CEO Jeff Rowe

Syngenta's CEO Jeff Rowe highlights India as a key market for the global agricultural company, focusing on innovation to support Indian farmers and enhance food security. The company plans to introduce new technologies in crop protection, biological products, and vegetable seed varieties, emphasizing sustainable and profitable farming practices.

Hindustan Times

India plans to raise vegetable oils import taxes, government sources say

INDIA-VEGOILS:India plans to raise vegetable oils import taxes, government sources say

Hindustan Times

India plans to raise vegetable oils import taxes, government sources say

INDIA-VEGOILS/ (UPDATE 1, PIX):UPDATE 1-India plans to raise vegetable oils import taxes, government sources say

Business Standard

Edible oil imports dip marginally by 1.6% in first 9 months of FY24: SEA

India's edible oil imports declined marginally by 1.6 per cent to 119.35 lakh tonnes in the first nine months of 2023-24 marketing year ending October, according to industry body SEA. Imports of cooking oils stood at 1,19,35,227 tonnes during November 2023-July 2024 period as against 1,21,22,711 tonnes in the corresponding period of 2022-23 marketing year. Oil marketing year runs from November to October. More than 50 per cent of India's cooking oils demand is met through imports. Solvent Extractors' Association of India (SEA) data showed that imports of non-edible oils, however, increased to 1,88,955 tonnes from 1,32,242 tonnes. The total import of vegetable oils (edible and non-edible oils) during the first nine months of the current oil year stood at 121.24 lakh tonnes, down 1 per cent compared to 122.55 lakh tonnes in the year-ago period. In the first nine months of the 2023-24 oil year (November 2023-July 2024), India imported 15,18,671 tonnes of refined edible oil, a 7 per c

Business Standard

PM Modi to release 109 high yielding, climate resilient varieties of crops

Prime Minister Narendra Modi will release 109 high yielding, climate resilient and biofortified varieties of crops at Indian Agricultural Research Institute here on Sunday, according to an official statement. The prime minister will also interact with farmers and scientists during the event, the statement said. The 109 varieties of 61 crops to be released include 34 field crops and 27 horticultural crops, it added. Among the field crops, seeds of various cereals, including millet, forage crops, oilseeds, pulses, sugarcane, cotton, fibre and other potential crops will be released, the statement said. Among the horticultural crops, different varieties of fruits, vegetable crops, plantation crops, tuber crops, spices, flowers and medicinal crops will be released, it added. Prime Minister Modi has always encouraged sustainable farming and adoption of climate resilient methodologies, the release said. He has also emphasised on promoting biofortified varieties of crops by linking them

Hindustan Times

India's wholesale prices at a 16-month high in June as vegetable prices go up

India's WPI rose in June, due to increased prices of food, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc.

The Economic Times

Eating out could become more expensive as vegetable prices soar

Vegetable prices are skyrocketing, leading restaurants to consider hiking menu prices and abandoning discounts, ultimately burdening diners with higher costs for dining out. The unprecedented price surge has impacted bottom lines of eateries, forcing some to adjust portions or even discontinue certain items. Larger establishments are extending support to vendors facing challenges due to rising costs, while smaller joints are exploring cost-saving measures like automation.

The Economic Times

India pitches for strengthening quality standards for spices

India actively supports global food standards at the Codex Alimentarius Commission session in Rome, emphasizing quality in spices, vegetable oils, and water reuse. The country's commitment to food safety, recycled materials, and addressing global challenges like climate change is evident in its participation and championing of guidelines.

The Economic Times

The curious case of how high vegetable prices are creating investment avenues

Vegetable and staple prices have increased and are refusing to come down. Prudent investors can pick stocks that have benefited from this phenomenon and hedge themselves.