Edible Oil

Govt raises import tax on crude, refined edible oils to support farmers

The move could lift edible oil prices and dampen demand and subsequently reduce overseas purchases of palm oil, soyoil and sunflower oil

Adani Wilmar eyes FMCG expansion, sets aside $1 billion for 3 acquisitions

Adani Wilmar is planning to purchase at least three brands specialising in spices, ready-to-cook foods, and packaged edibles

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

Q1 results: Adani Wilmar swings back into Rs 313 crore net profit

Edible oil registered strong volume growth of 12 per cent YoY and surpassed one million tonnes in the quarter and its food & FMCG sales crossed Rs 1,500 crores in Q1

Mother Dairy aims Rs 17,000 cr turnover in FY25 on better demand: MD

Mother Dairy is targeting a 13 per cent growth in its turnover to Rs 17,000 crore this fiscal, as it expects higher demand for its dairy and edible oils products. Mother Dairy is a leading milk supplier in Delhi-NCR. It sells edible oils pan-India under the 'Dhara' brand and markets fresh fruits and vegetables in Delhi-NCR through around 400 'Safal' retail outlets. "As we mark our 50th anniversary, we crossed a milestone revenue of Rs 15,000 crore in the last fiscal year," Mother Dairy Managing Director Manish Bandlish told PTI. He said the company has been consistently growing and achieved over 40 per cent jump in revenue in the last three years. "As we progress into the current fiscal year, we are confident in accelerating our growth momentum, expecting to add another Rs 1,500 to 2,000 crore," Bandlish said. The onset of the 2024-25 fiscal has been very encouraging with most of its summer-led categories like curd, ice creams and dairy beverages, among others, having grown ...

Louis Dreyfus relaunches edible oil brand 'Vibhor' for North India market

Global agricultural merchant Louis Dreyfus Company on Wednesday announced the relaunch of its edible oil brand 'Vibhor' in North India's business-to-consumer segment. With this, the company aims to capitalise on India's growing edible oil market. The refreshed product line includes soybean, palmolein, cotton seed, and mustard oils, as well as premium vanaspati, all enriched with vitamins A and D, Louis Dreyfus Company (LDC) Country CEO for India Sumeet Mittal said at a press conference. "This re-launch supports our strategy to move further downstream in the value chain and diversify our offering with value-added products," Mittal said. LDC, which has been operating in India since 1997, will initially focus on expanding its distribution network in North Indian states, including Punjab, Haryana, Delhi, and Uttar Pradesh, citing logistics convenience from its Kandla processing unit in Gujarat. The company's Kandla facility has an annual edible oil processing capacity of 3,50,000 tonn

Food company Annapurna acquires 'Arati' edible oil brand for Rs 28 cr

Packaged food company Annapurna Swadisht Ltd on Wednesday announced that it has acquired the six-decade-old 'Arati' brand mustard oil from R R Proteins and Agro Ltd (RRPAL) for a consideration of Rs 28 crore. The acquisition would help the company foray into the edible oil segment and strengthen its FMCG portfolio. The estimated amount of Rs 28 crore includes the cost of acquisition of manufacturing unit and the brand, a company official said. The funding for the deal would be a combination of internal accruals and debt, he said. RRPAL has a production capacity of 9 lakh litres of oil per month, and the acquisition will enable Annapurna Swadisht to enter a new business vertical of edible oil, he said. "We believe that acquisition offers an opportunity that aligns well with the company's overall strategy of becoming a formidable player in the packaged food industry in the semi-urban and rural markets of India," Annapurna Swadisht Ltd (ASL) Managing Director Shreeram Bagla said. Th

Vegetable oil imports dwindle 13% in Feb to 975,000 tonnes, says SEA

India's vegetable oils import fell 13 per cent year-on-year in February to nearly 9.75 lakh tonne, according to industry data. In a statement on Wednesday, Solvent Extractors' Association of India (SEA) said the import of vegetable oils (comprising edible oils and non-edible oils) during February stood at 9,74,85 tonne as compared to 11,14,481 tonne in the year-ago period. Out of the total imports, the edible oil shipments fell to 9,67,852 tonne last month from 10,98,475 tonne in February 2023. Non-edible oils imports too fell to 7,000 tonne from 16,006 tonne in the year-ago period. During November 2023-February 2024 period, the overall import of vegetable oils declined 21 per cent to 46,47,963 tonne from 58,87,900 tonne in the corresponding period of the previous oil year. Oil marketing year runs from November to October. Edible oils import fell to 46,15,551 tonne during the first four months of 2023-24 oil year from 58,44,765 tonne in the year-ago period. Non-edible oils impor

Why is achieving 'atmanirbharta' in edible oils a difficult ask?

Unless the focus comes back on high-yielding seeds that have a higher oil content than currently available varieties, self-sufficiency in edible oils will continue to be a mirage

From Q1FY25, there will be stability, rural demand may rise: Adani Wilmar

Q3 is a very big quarter...Overall edible oil growth is flattish, but when you look at the packed segment, it has shown a growth rate of 4-5 per cent, said Angshu Mallick, MD and CFO of Adani Wilmar

Exports of oilmeals rise 16% to 1.22 mn tonne in December quarter

The country's oilmeals exports rose 16 per cent to 12.20 lakh tonne in the third quarter of the current fiscal compared to the year-ago period, industry body SEA said on Thursday. Around 10.53 lakh tonne of oilmeals was exported during the October-December quarter of 2022-23. According to the Solvent Extractors Association of India (SEA), the country exported 6.24 lakh tonne of soybean meal, 4.79 lakh tonne of rapeseed meal, 1.14 lakh tonne of castor seed meal and 2,642 lakh tonne of groundnut meal in third quarter of the current fiscal. In December alone, total oilmeals exports were at 5.32 lakh tonne, up by 23 per cent from 4.33 lakh tonne in the year-ago period, it said. SEA said the country's export of soyameal rose due to price competitiveness amid shortage of Argentine export supplies in recent months. The major consumer of Indian soybean meal is South East Asia, where India has a logistic advantage and also can supply in small lots, it added. The industry body also mention

Govt imposes 50% export duty on molasses; extends lower duty on edible oils

Move seeks to ensure adequate quantities for ethanol blending and keep inflation in check

Govt extends low tax on edible oil import by another year to cap prices

Traders and processors will benefit from a zero base import tax until the end of March next year, according to a finance ministry notification

Edible oil imports likely to fall 6% due to higher carryover stocks

The country is likely to import 9.5 million metric tons of palm oil next year against 10 million in 2022-23, he told a global conference on vegetable oils in Mumbai

Edible oil prices may not rise during festive season due to good supply

The prices of edible oils, however, may increase from December through April-May next year due to the impact of El Nino in oil-producing countries

India's July edible oil imports hit record at 1.76 mn metric tonnes

India's average monthly edible oil imports in 2021/22 marketing year were 1.17 mn tonnes, trade body SEA said. In June, India imported 1.3 million tonnes of edible oils

Cut edible oils MRP by Rs 8-12 per litre, in line with global market: Govt

The Centre on Friday directed edible oil associations to further reduce the maximum retail price (MRP) of major edible oils by Rs 8-12 per litre with immediate effect, in line with the global market. "Some companies which have not reduced their prices and their MRP is higher than other brands have also been advised to reduce their prices," the food ministry said after a meeting, chaired by food secretary Sanjeev Chopra, with the industry representatives. Price to distributors by the manufacturers and refiners also needs to be reduced with immediate effect so that the price drop is not diluted in any way, it said. It was also impressed upon that whenever a reduction in price to distributors is made by the manufactures/refiners, the benefit should be passed on to the consumers by the industry and the ministry may be kept informed on a regular basis, it added. With the edible oil prices continuing to show a downward trend and set to witness further reduction by the edible oil industry

FSSAI proposes to do away with Agmark registration for some edible oils

For such edible oils, only FSSAI license will be enough and a separate Agmark registration won't be required, industry players

Govt asks edible oil firms to cut cooking oil prices as global prices fall

The Centre on Thursday asked edible oil companies to cut the prices of cooking oils in line with the fall in global prices for the benefit of consumers. A major importer of edible oils, India imported cooking oils worth Rs 1.57 lakh crore during 2021-22 marketing year (November-October). It buys palm oil from Malaysia and Indonesia while soyabean oil is being imported from Argentina and Brazil. "The decline in the price of edible oils should be passed on to consumers expeditiously," Food Secretary Sanjeev Chopra said during a meeting with leading industry representatives here. Representatives from Solvent Extraction Association of India (SEA) and Indian Vegetable Oil Producers' Association (IVPA) were present at the meeting to discuss further reduction in the retail prices of cooking oils amidst a fall in the global prices, an official statement said. Mother Dairy, which sells cooking oils under Dhara brand, on Thursday said it has reduced the maximum retail prices by Rs 15-20 per

Godrej Agrovet inks pact with AP govt to set up edible oils refining plant

Godrej Agrovet Ltd has proposed to invest Rs 100 crore to set up a refining plant for edible oils in Andhra Pradesh. In a statement, the company said it has signed a Memorandum of Understanding (MoU) with the state government on the sidelines of Andhra Pradesh Global Investors Summit (APGIS) 2023. As a part of the MoU, Godrej Agrovet's oil palm business will be making an estimated investment of Rs 100 crore to set up a manufacturing facility for edible oil refinery and solvent extraction plant. The company already has 45,000 hectare area of oil palm plantation area in Andhra Pradesh (AP). The proposed new plant will have a projected refining capacity of 400 tonnes per day and will be set up in Seethanagaram, Eluru District in AP. This is company's first downstream project for value-added products in oil and fats. Balram Singh Yadav, Managing Director of Godrej Agrovet, said, "The MoU is in line with Godrej Agrovet's long-term strategy to be the catalyst in India's oil mission thro