Cooking oil prices to go down by Rs 15? All you need to know
2 years, 5 months ago

Cooking oil prices to go down by Rs 15? All you need to know

India Today  

The centre has asked trade bodies to reduce edible oil prices by Rs 15 per litre immediately because prices in the world market have fallen sharply, the government said in a statement, as per a Reuters report. Last week, the food ministry called a meeting of cooking oil industry bodies and manufacturers to deliberate on reduction in the retail prices of cooking oils as there has been a fall in global prices. Solvent Extractors' Association of India's Executive Director B V Mehta said the global prices have fallen by $300-$450 per tonnes of different edible oils in the last one month, but it takes time to reflect in the retail markets. Meanwhile, India's palm oil imports in July are set to jump to the highest in 10 months because of a hefty correction in prices and as Indonesia allows more exports of the tropical oil, four dealers told Reuters.

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History of this topic

Mint Explainer: How rising palm oil prices impact India and its consumers
1 week, 5 days ago

Mint Explainer: How rising palm oil prices impact India and its consumers

Live Mint  

Investors were left reeling this week as Godrej Consumer Products issued a stark warning: soaring palm oil prices have severely impacted its soaps segment, a cornerstone of its business. This policy change came as global palm oil prices were already climbing due to supply constraints in Southeast Asia, creating a perfect storm for manufacturers. Read this | Edible oil, tea, …

World food prices hold firm in June, UN's FAO reports
5 months, 2 weeks ago

World food prices hold firm in June, UN's FAO reports

Hindustan Times  

The United Nations world food price index held steady in June data showed on Friday, with increases in vegetable oil, sugar and dairy products offset by a fall in the price of cereals. The FAO index hit a three-year low in February as food prices receded from a record peak set in March 2022 following Russia's invasion of Ukraine. Cereal …

Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia’s war
1 year, 2 months ago

Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia’s war

Associated Press  

How do you cook a meal when a staple ingredient is unaffordable? At Nairobi’s major food market, Wakulima, the prices for onions from Tanzania were the highest in seven years, seller Timothy Kinyua said. Tanzania’s onion limits this year are part of the “contagion” of food restrictions from countries spooked by supply shortages and increased demand for their produce, said …

Global food prices rise after Russia ends grain deal and India restricts rice exports
1 year, 4 months ago

Global food prices rise after Russia ends grain deal and India restricts rice exports

LA Times  

A farmer works in a rice paddy in June on the outskirts of Guwahati, India. Global prices for food commodities including rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the U.N. Food …

Global food prices rise after Russia ends grain deal and India restricts rice exports
1 year, 4 months ago

Global food prices rise after Russia ends grain deal and India restricts rice exports

Associated Press  

LONDON — Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly …

Govt. asks industry to cut edible oils MRP by ₹8-12 per litre as global prices drop
1 year, 6 months ago

Govt. asks industry to cut edible oils MRP by ₹8-12 per litre as global prices drop

The Hindu  

The Centre on Friday directed edible oil associations to further reduce the maximum retail price of major edible oils by ₹8-12 per litre with immediate effect, in line with the global market. Industry representatives including Solvent Extraction Association of India and Indian Vegetable Oil Producers' Association were present in the second meeting convened within a month to discuss further reduction …

Oil prices fall after Russia plays down on additional OPEC+ cuts; details here
1 year, 6 months ago

Oil prices fall after Russia plays down on additional OPEC+ cuts; details here

Live Mint  

Oil prices fell on May 25 after Russian Deputy Prime Minister Alexander Novak played down the prospect of further OPEC+ production cuts at its meeting next week. "The obvious reading is that the Kingdom may either unilaterally cut oil production or orchestrate a wider OPEC+ reduction.thereby supporting prices and stinging speculators that are shorting oil," according to analysts at bank …

India's palm oil imports could jump to 4-year high on lower prices
1 year, 9 months ago

India's palm oil imports could jump to 4-year high on lower prices

The Hindu  

India’s palm oil imports could jump 16% in 2022/23 to a four-year high of 9.17 million tonnes, as consumption is set to jump after two years of contraction due to COVID-led lockdowns, a senior industry official told Reuters on Tuesday. India’s palm oil imports in the first four months of the 2022/23 marketing year that started on Nov. 1 jumped …

India’s palm oil imports could jump to 4-year high on lower prices
1 year, 9 months ago

India’s palm oil imports could jump to 4-year high on lower prices

Live Mint  

India's palm oil imports could jump 16% in 2022/23 to a four-year high of 9.17 million tonnes, as consumption is set to jump after two years of contraction due to COVID-led lockdowns, a senior industry official told Reuters on Tuesday. Higher purchases by the world's biggest importer of vegetable oils could lend further support to palm oil futures, which are …

Top palm oil buyer India’s Jan imports fall to six-month low
1 year, 10 months ago

Top palm oil buyer India’s Jan imports fall to six-month low

Live Mint  

India's January palm oil imports fell 31% from a month ago to their lowest in months as a narrowing discount to rival oils prompted refiners to increase purchases of soybean and sunflower oils, five dealers told Reuters on Thursday. India's palm oil imports fell to 770,000 tonnes last month, the lowest since July 2022, according to the average of the …

Prices Of Edible Oil Fall In India Due To Slump In International Market
2 years, 1 month ago

Prices Of Edible Oil Fall In India Due To Slump In International Market

News 18  

The prices of mustard, groundnut, soybean oil-oilseeds, cottonseed, crude palm oil, and palmolein oil fell in India following a slump in the global markets. The cost of mustard seeds decreased by Rs 175 close to Rs 7,300-7,350 per quintal as compared to Friday’s closing price. In comparison, Pakki Ghani and Kachi Ghani oil declined by Rs 90 to Rs 2,250 …

Palm surges nearly 6% on higher soyoil prices, strong India demand
2 years, 3 months ago

Palm surges nearly 6% on higher soyoil prices, strong India demand

Live Mint  

Malaysian palm oil futures rose nearly 6% on Tuesday, tracking gains in rival soyoil on bleak forecast for US soybean harvest, while strong demand from key buyer India provided an added boost. India's palm oil imports in August jumped 87% from a month ago to the highest level in 11 months as a sharp drop in prices prompted refiners to …

India’s palm oil imports fall as soyoil imports jumps record 125% high in July
2 years, 4 months ago

India’s palm oil imports fall as soyoil imports jumps record 125% high in July

Live Mint  

India's palm oil imports in July fell 10% from a month ago, as refiners ramped up purchases of rival soyoil to take advantage of New Delhi's move to allow duty-free imports of the vegetable oil to calm all-time high prices, a trade body said on Friday. Higher soyoil purchases by the world's biggest edible oil importer will support U.S. soyoil …

Cooking oil to get cheaper? All you need to know
2 years, 5 months ago

Cooking oil to get cheaper? All you need to know

India Today  

Cooking oil may get cheaper in coming days as retail prices are expected to come down. The food ministry called a meeting of cooking oil industry bodies and manufacturers to deliberate on reduction in the retail prices of cooking oils as there has been a fall in global prices. Higher purchases by India, the world's biggest importer of vegetable oils, …

India’s July palm oil imports may surge to 10-month high as prices plunge
2 years, 5 months ago

India’s July palm oil imports may surge to 10-month high as prices plunge

Live Mint  

India's palm oil imports in July are set to jump to the highest in 10 months because of a hefty correction in prices and as Indonesia allows more exports of the tropical oil, four dealers told Reuters. Higher purchases by India, the world's biggest importer of vegetable oils, may add support for Malaysian palm oil prices, which are trading near …

Cooking Oil Becomes Cheaper by up to Rs 20/Litre on Import Duty Reduction; Key Details
2 years, 6 months ago

Cooking Oil Becomes Cheaper by up to Rs 20/Litre on Import Duty Reduction; Key Details

News 18  

The prices of domestic cooking and edible oils have started to cool off by as much as Rs 10 to 20 per litre after having surged during last year and the beginning of this year. This reduction in oil prices comes in the at a time when the central government reducing the import duties on edible oils, hence making them …

Will Milk, Soap, Shampoo Prices Come Down After Edible Oil Price Cut? What FMCG Makers Say
2 years, 6 months ago

Will Milk, Soap, Shampoo Prices Come Down After Edible Oil Price Cut? What FMCG Makers Say

News 18  

Though the edible oil prices have come down as the import duties on them have been cut by the government, fast-moving consumer goods companies said they will not cut prices but instead will reduce the pace of price increases, according to a media report. The branded edible oil makers are reducing the prices on the oil, including palm oil, as …

Edible Oil Prices Drop; Know Why Rates Are Cooling Off
2 years, 6 months ago

Edible Oil Prices Drop; Know Why Rates Are Cooling Off

News 18  

After rising in the past few month due to lower production of oilseeds and higher manufacturing and logistics costs, the edible oil prices have started cooling off as branded manufacturers are cutting the rates. The new base import price of crude palm oil now stands at $1,620 per tonne as against $1,625 per tonne. Similarly, RBD palm oil and RBD …

Palm oil imports surge to seven-month high in May despite Indonesia's ban
2 years, 6 months ago

Palm oil imports surge to seven-month high in May despite Indonesia's ban

The Hindu  

Palm oil exports in May were their highest in seven months and up 15% in April as the country overcame curbs on Indonesian exports by sourcing more of the commodity from Malaysia, Thailand and Papua New Guinea, according to five industry officials. Higher purchases by India, the world's biggest importer of vegetable oil, could support Malaysian palm oil prices, which …

Data | Import-reliant India’s edible oil prices skyrocket, average costs near ₹200/litre
2 years, 6 months ago

Data | Import-reliant India’s edible oil prices skyrocket, average costs near ₹200/litre

The Hindu  

In a bid to tame the soaring prices of edible oils, the Central government on Tuesday has allowed duty-free import of 20 lakh tonnes of crude soyabean and crude sunflower oil for the current and next fiscal year. The local prices of edible oil are vulnerable to changes in international markets given India’s high reliance on imports. The price of …

Duty-Free Import Of Edible Oils: Will Cooking Oil Prices Come Down For Consumers? Know Details
2 years, 6 months ago

Duty-Free Import Of Edible Oils: Will Cooking Oil Prices Come Down For Consumers? Know Details

News 18  

Amid the prevailing high level of inflation in the country, the government and the Reserve Bank of India have been taking several steps to tame the pace of price rise. As part of this, the Centre has also allowed duty-free import of 20 lakh tonnes of crude soyabean and sunflower oil to cool edible oil prices. Here’s what the measure …

India's palm oil imports could hit 11-yr low as soyoil rises
2 years, 6 months ago

India's palm oil imports could hit 11-yr low as soyoil rises

The Hindu  

India's palm oil imports could drop by nearly a fifth as now cheaper soyoil takes more market share, following Indonesia's curbs on palm oil exports and New Delhi allowing duty-free imports of soyoil, dealers said. Palm oil imports by the world's biggest vegetable-oil importer in its marketing year ending on October 31 will fall 19% to 6.7 million tonnes, the …

India’s palm oil imports could fall to 11-yr low
2 years, 6 months ago

India’s palm oil imports could fall to 11-yr low

Live Mint  

India's palm oil imports could fall 19% to the lowest level in 11-years as soyoil, now cheaper, takes more market share because of Indonesia's curbs on palm oil exports and New Delhi's move to allow duty-free imports of soyoil, dealers said. Lower palm oil purchases by the world's biggest vegetable oil importer could put pressure on Malaysian palm oil prices …

Cooking Oil Price to Come Down as Indonesia Lifts Ban on Palm Oil Export? Know Here
2 years, 7 months ago

Cooking Oil Price to Come Down as Indonesia Lifts Ban on Palm Oil Export? Know Here

News 18  

After almost a month of announcing a ban on palm oil exports, the Indonesia government has lifted the restriction effective Monday. Indonesia last month announced the ban on the export of palm oil with effect from April 28, in the wake of a severe shortage and skyrocketing prices of edible oil in the Southeast Asian nation. India imports over 13.5 …

Indonesia lifts ban on cooking oil export as supply improves
2 years, 7 months ago

Indonesia lifts ban on cooking oil export as supply improves

Associated Press  

JAKARTA, Indonesia — Indonesia said Thursday it will lift a monthlong ban on palm oil export, citing improvements in the supply and domestic price of bulk cooking oil. Palm oil prices went up 200% or higher after Indonesia banned the export of cooking oil and its raw materials to reduce local shortages and hold down skyrocketing prices. Widodo said in …

Indonesia to lift ban on palm oil export from May 23
2 years, 7 months ago

Indonesia to lift ban on palm oil export from May 23

India TV News  

Highlights Indonesia will lift a monthlong ban on palm oil export on May 23 Palm oil prices went up 200% or higher after Indonesia banned the export of cooking oil Indonesia and Malaysia are the world’s largest exporters of palm oil Indonesia said Thursday it will lift a monthlong ban on palm oil export, citing improvements in the supply and …

Food price relief? Indonesia lifts palm oil export ban
2 years, 7 months ago

Food price relief? Indonesia lifts palm oil export ban

CNN  

London CNN Business — Indonesia will lift a ban on exports of palm oil starting next week, a move that could ease a tight global market and relieve some of the pressure on food prices. News of the ban sent Malaysian crude palm oil futures prices — the global benchmark — soaring. According to its report, “war in the Black …

Breads, Biscuits, Rotis May Get Costlier As Flour Prices High, Govt Scheme Not Announced Yet
2 years, 7 months ago

Breads, Biscuits, Rotis May Get Costlier As Flour Prices High, Govt Scheme Not Announced Yet

News 18  

Breads, biscuits and rotis are likely to see a rise in prices from next month on high wheat flour prices and as the open market sale scheme for wheat for the current year has not been announced yet. Wheat flour’s all-India average retail price stood at Rs 32.78 per kg on Saturday, 9.15 per cent higher than the price a …

Sunsilk, Clinic Plus, Lux Soap Price Hikes: HUL Raises Rates By Up To 15%; Know Details
2 years, 7 months ago

Sunsilk, Clinic Plus, Lux Soap Price Hikes: HUL Raises Rates By Up To 15%; Know Details

News 18  

FMCG major Hindustan Unilever Ltd has raised prices of its goods by up to 15 per cent across segments, sources have told CNBC TV-18. The price of Sunsilk shampoo has been increased by Rs 8-10 across variants, while 100-ml Clinic Plus shampoo has got costlier by 15 per cent. Moreover, Indonesia has also banned its palm oil exports, which has …

Price Rise will be Last Resort; Impact of Palm Oil Ban to Be Temporary: HUL CEO
2 years, 7 months ago

Price Rise will be Last Resort; Impact of Palm Oil Ban to Be Temporary: HUL CEO

News 18  

Taking steps to control inflation was the right thing to do, FICCI president and Hindustan Unlilever MD and CEO Sanjiv Mehta told in an interview on Thursday following the RBI repo rate hike. “Inflation today is not homegrown, it’s partly due to pandemic, impact of palm oil export ban, rising oil prices and geopolitics,” he said. “We have seen prices …

Soap, Shampoo, Chocolate Price Hikes: Is Indonesia's Palm Oil Export Ban Impact For Short Term?
2 years, 7 months ago

Soap, Shampoo, Chocolate Price Hikes: Is Indonesia's Palm Oil Export Ban Impact For Short Term?

News 18  

Even as Indonesia has banned exports of its palm oil due to a severe shortage and skyrocketing prices of edible oil, analysts and industry players feel the curb on the outbound shipments is likely to be short-lived and will be lifted soon. The move could remove about 2 million tonnes of palm oil supply from the global market every month, …

Central panel to keep track of essentials as prices soar
2 years, 7 months ago

Central panel to keep track of essentials as prices soar

Hindustan Times  

New Delhi: The Union government has formed an inter-ministerial committee to monitor domestic prices, shipments and availability of agri commodities, especially edible oil, as higher fertiliser and global commodity rates have sent domestic food prices soaring, an official said, requesting anonymity. Edible oil prices have remained elevated due to global supply disruptions and have knocked household budgets. Pradeep S Mehta, …

Fear of cooking oil shortage, spike in prices as 290,000 tons stuck in Indonesia
2 years, 7 months ago

Fear of cooking oil shortage, spike in prices as 290,000 tons stuck in Indonesia

Hindustan Times  

Indonesia President Joko Widodo's drastic measures to control food prices by banning palm oil exports have come into effect from Thursday. According to the officials, the disruption in shipments after Indonesia widened its export ban to include crude and refined palm oil will create a vegetable oil shortage in top importer India. Last week, Widodo had imposed an export ban …

Indonesia's Palm Oil Export Ban Effective Today: Here's What You Need To Know
2 years, 7 months ago

Indonesia's Palm Oil Export Ban Effective Today: Here's What You Need To Know

News 18  

The ban on palm oil exports announced by Indonesia last week has come into effect from Thursday. Indonesia last week announced the ban on the export of palm oil with effect from April 28, in the wake of a severe shortage and skyrocketing prices of edible oil in the Southeast Asian nation. So, it’s going to be very challenging.” Santosh …

Russia's War Heats Up Cooking Oil Prices
2 years, 7 months ago

Russia's War Heats Up Cooking Oil Prices

Huff Post  

LOADING ERROR LOADING ISTANBUL — For months, Istanbul restaurant Tarihi Balikca tried to absorb the surging cost of the sunflower oil its cooks use to fry fish, squid and mussels. The war in Ukraine — which supplies nearly half of the world’s sunflower oil, on top of the 25% from Russia — has interrupted shipments and sent cooking oil prices …

Food prices call for vigilance
2 years, 7 months ago

Food prices call for vigilance

Hindustan Times  

The past few weeks have seen a growing uncertainty about the amount of wheat the government will be able to procure this year. In regions where procurement has traditionally been high, market prices have surged beyond Minimum Support Price levels, encouraging farmers to sell to private traders rather than the government. Data from the Food Corporation of India shows that …

Russia’s war heats up cooking oil prices in global squeeze
2 years, 7 months ago

Russia’s war heats up cooking oil prices in global squeeze

Associated Press  

ISTANBUL — For months, Istanbul restaurant Tarihi Balikca tried to absorb the surging cost of the sunflower oil its cooks use to fry fish, squid and mussels. “The customer cannot afford it.” Global cooking oil prices have been rising since the COVID-19 pandemic began for multiple reasons, from poor harvests in South America to virus-related labor shortages and steadily increasing …

Global fallout from Ukraine war takes another form: Higher cooking oil prices
2 years, 7 months ago

Global fallout from Ukraine war takes another form: Higher cooking oil prices

LA Times  

For months, Istanbul restaurant Tarihi Balikca tried to absorb the surging cost of the sunflower oil its cooks use to fry fish, squid and mussels. The war in Ukraine — which supplies nearly half of the world’s sunflower oil, with Russia supplying an additional 25% — has interrupted shipments and sent cooking oil prices spiraling. Palm oil prices were up …

Explained: How Indonesia’s palm oil export ban will impact your everyday life
2 years, 7 months ago

Explained: How Indonesia’s palm oil export ban will impact your everyday life

Firstpost  

Come Thursday and Indonesia will ban the export of crude palm oil. This will make everything from cakes to cosmetics, spreads to shampoos costlier in India Indonesia has decided to ban the export of crude palm oil from 28 April. It imports around eight million tonnes of palm oil every year, accounting for about 40 per cent of the share …

Palm oil price to spike in India as Indonesia’s export ban leaves global buyers in limbo
2 years, 7 months ago

Palm oil price to spike in India as Indonesia’s export ban leaves global buyers in limbo

The Hindu  

Global edible oil consumers have no option but to pay top dollar for supplies after Indonesia's surprise palm oil export ban forced buyers to seek alternatives, already in short supply due to adverse weather and Russia's invasion of Ukraine. The move by the world's biggest palm oil producer to ban exports from Thursday will lift prices of all major edible …

Soaps, Shampoos, Noodles, Edible Oil Prices May Rise Further as Indonesia Bans Palm Oil Export
2 years, 8 months ago

Soaps, Shampoos, Noodles, Edible Oil Prices May Rise Further as Indonesia Bans Palm Oil Export

News 18  

Following Indonesia’s ban on palm oil export, the prices of edible oil and packaged goods in India are likely to see a jump amid its lower availability in the country. After Indonesia’s ban, domestic edible oil prices are likely to jump 10-15 per cent in the short term, according to an FE report quoting industry officials. The move by the …

‘Hurting the vulnerable’: Indonesia’s palm oil ban ignites prices
2 years, 8 months ago

‘Hurting the vulnerable’: Indonesia’s palm oil ban ignites prices

Al Jazeera  

Ban on palm oil exports adds to global food security fears amid poor harvests and the war in Ukraine. Medan, Indonesia – Indonesia’s ban on palm oil exports is sending soaring cooking oil prices even higher worldwide, exacerbating global food security fears amid adverse weather and the war in Ukraine. “Indonesia is a leading producer of palm oil and its …

Edible Oil Prices to Hike Further as Indonesia Bans Export of Palm Oil; Know Details
2 years, 8 months ago

Edible Oil Prices to Hike Further as Indonesia Bans Export of Palm Oil; Know Details

News 18  

The price of edible oil in India is likely to shoot up as Indonesia recently announced a ban on export of palm oil owing to local shortage. For India, a halt in palm oil supply from Indonesia would mean a loss of about 4 million tonne of the edible oil each month, as per Mint. “Experts said that India’s sunflower …

Cooking oil prices in India may spike on Indonesia's palm oil export ban: Report
2 years, 8 months ago

Cooking oil prices in India may spike on Indonesia's palm oil export ban: Report

Hindustan Times  

Edible oil prices in India - already high - are likely to increase with Indonesia - the world's biggest palm oil producer - set to ban exports from April 28 in the wake of a local shortage. Indonesia produces over half world's supply of palm oil - used in everything from processed foods and cosmetics to biofuels - and accounts …

Price rise, inflation in India: From food items to edible oil rates, what to expect in coming months?
2 years, 8 months ago

Price rise, inflation in India: From food items to edible oil rates, what to expect in coming months?

India Today  

Price rises have hit common people across the country. Inflation in 'oils and fats' in March soared to 18.79 per cent as the geopolitical crisis due to the Russia-Ukraine war pushed edible oil prices higher. In vegetables, inflation quickened to 11.64 per cent in March, while in 'meat and fish' the rate of price rise stood at 9.63 per cent …

Price rise: Nine in 10 households cut consumption, savings to cope with edible oil rate spikes, says survey
2 years, 8 months ago

Price rise: Nine in 10 households cut consumption, savings to cope with edible oil rate spikes, says survey

India Today  

The rise in edible oil prices over the last 12 months pinched low-and middle-income households across India. Prices of most edible oils that are used in Indian households for cooking have increased 50 per cent to 70 per cent more than pre-covid pandemic levels, according to a survey. To cope with the spike in edible oil rates, 24 per cent …

Far from Ukraine, Indonesia’s poor can’t get cooking oil
2 years, 8 months ago

Far from Ukraine, Indonesia’s poor can’t get cooking oil

Al Jazeera  

Indonesia is facing shortages as the Ukraine war and other factors send palm oil prices soaring. After soaring prices of crude palm oil caused prices of cooking oil to spike more than 50 percent, Indonesia’s government in February capped the price of a litre of oil at 14,000 Indonesian rupees. “Actually, there are stocks of cooking oil all over the …

Household budgets on rise as petrol-diesel to vegetable, oil, milk prices spike
2 years, 8 months ago

Household budgets on rise as petrol-diesel to vegetable, oil, milk prices spike

India Today  

Prices of petrol, diesel, vegetables, oil, milk and other essential commodities have gone up rapidly across the country. EDIBLE OIL The country, which is dependent on the imports of edible oil to meet over 60 per cent of its domestic demand, has seen a sharp rise in retail prices of various types of cooking oils in the last couple of …

Indians cut down on necessities as Ukraine war inflates prices
2 years, 9 months ago

Indians cut down on necessities as Ukraine war inflates prices

Al Jazeera  

Consumers in Asia’s third-largest economy are feeling the bite as companies pass on higher costs since the invasion. Consumers in Asia’s third-largest economy are feeling the bite as companies pass on higher costs since the invasion, battling the first hikes in five months this week in the prices of diesel and petrol, as well as more expensive vegetable oils. But …

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