A by-product in rice milling, rice bran has been traditionally used for cattle and poultry feed. In recent years, oil mills have started extracting rice oil, which is popular among health-conscious consumers but historically more expensive than rival oils.
Retail prices of wheat, rice, sugar and edible oils are showing a declining trend after the measures taken by the government, including curbs on exports of wheat and sugar, Food Secretary Sudhanshu Pandey said on Thursday.
Due to government steps, there has already been a 21.59 per cent reduction in average retail prices of palm oil at Rs 132.98 per kg on October 31, from Rs 169.6 per kg on October 1, as per the data maintained by the consumer affairs ministry.
On October 10, the Centre had imposed stock limits on traders of edible oils and oilseeds, barring certain importers and exporters, till March 31, in a bid to control domestic prices and provide relief to consumers.
Edible oil prices in the domestic retail markets have shot up sharply by up to 46.15 percent in the last one year due to global factors and local tight supply situation, as per government data.
The boom in edible oil prices is affecting consumption and hitting food company margins. A successful strike by the government could bring much needed relief
While basic customs duties have been cut for the second time in less than a month, edible oil prices continue to remain high. With the festive season set to begin soon, the cut-off date for ending duty cuts -- September 30 -- may now be extended.
There are concerns that it may not be a good idea from the environment point of view to give a push to the growth of oil palm in biodiversity rich areas like the North-East and the Andamans
Addressing a virtual event on PM-Kisan scheme, he said over Rs 11,000 crore will be invested in the edible oil ecosystem.
The country's imports of soyoil in June rose 49 percent from a year ago to 331,264 tonnes, while sunflower oil imports rose 66 percent to 268,128 tonnes, according to provisional data compiled by the Solvent Extractors' Association.
Traders said adequate stocks positions against sporadic demand kept edible and non-edible oil prices flat.
The world's biggest importer of edible oils also raised the import tax on crude soyoil to 30 percent from 17.5 percent earlier. It raised the import tax on refined soyoil to 35 percent from 20 percent earlier, it said.
Currently, export of edible oils is allowed in up to 5 kg pack at minimum export price of USD 900 per tonne. The bulk export was banned way back in 2008 to curb price rise.
Under the agreement, Ruchi Soya will process and pack the crude oil provided by Patanjali Ayurved as per their specifications, the company said in a release issued here.
The government is targeting to increase pulses production by around 50 per cent to 24 million tonne by 2020-21 through use of hybrid and high-yielding seed varieties, Agriculture Minister Radha Mohan Singh said on Tuesday.
The prices of certain consumer durables like televisions, air conditioners, fridges and washing machines may however become cheaper with decrease in taxes.
There is not much increase in the sugar rates this time and even pulses prices are showing a declining trend with arrival of new kharif crop, he said and added that edible oils prices are also stable in retail markets.
Imports of vegetable oils (comprising edible and non- edible oils) stood at 11.39 lakh tonnes in December 2014, the Solvent Extractors Association of India said in a statement.
A sharp decline in domestic oilseeds output and crushing has encouraged edible oil imports, while discouraging exports of oilmeal, it said. In fact, export of oilmeal -- used as animal feed -- has dropped by 85 percent to 59,818 tonnes in December 2015, as against 4,10,178 tonnes in the year-ago period, it added.
In September, the government had raised import duty on crude edible oils to 12.5 percent from 7.5 percent, while the duty on refined edible oils was increased to 20 percent from 15 percent.
The manufacturer and marketer of edible oils and some other products recorded an increase of 2.18 per cent in net sales in Q1, from Rs 5725.46 crore to Rs 5,850.37 crore.
The damage to rapeseed could mean India imports more rapeseed oil, which is made from rapeseed. That could push prices higher as India is the world's biggest buyer of edible oils. The April rapeseed contract rose 6.7 percent over the last ten days, while rapeseed oil firmed 0.7 percent.
Retail prices of essential food items, including wheat and edible oils, are expected to increase marginally across the country due to a rise in the cost of transport following diesel price hike by over Rs 5 per litre, industry bodies said.
Mangal Keshav has come out with its report on Chilli, Jeera, Pepper, Cardamom, Soyabean, Edible oils, Guar seed, mustard seed, Mentha oil.
Mangal Keshav has come out with its report on Chilli, Jeera, Pepper, Cardamom, Soyabean, Edible oils, Guar seed, mustard seed, Mentha oil.