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 cheaper, companies have said. Here is everything you need to know about the cooking oil price cut: Major retail brands including Adani Wilmar, Patanjali, Mother Dairy and Emami Agrotech have already announced a price cut in cooking oils including mustard oil, soyabean oil and vegetable oil. Milk cooperative company Mother Dairy has also reduced the prices of its Dhara edible oils across variants by up to Rs 15 per litre. However, the government recently reduced the import duty on crude and refined edible oils, which allowed FMCG companies to cool off their retail prices.

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History of this topic

Mint Explainer: How rising palm oil prices impact India and its consumers
1 week, 4 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, …

India plans to raise vegetable oils import taxes, government sources say
3 months, 3 weeks ago

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

Hindustan Times  

By Rajendra Jadhav and Mayank Bhardwaj India plans to raise vegetable oils import taxes, government sources say MUMBAI -India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. Increasing import taxes is one of the options," said a government source, who asked not to …

India plans to raise vegetable oils import taxes, government sources say
3 months, 3 weeks ago

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

Hindustan Times  

By Rajendra Jadhav and Mayank Bhardwaj India plans to raise vegetable oils import taxes, government sources say MUMBAI, - India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. Increasing import taxes is one of the options," said a government source, who asked not …

Food for thought: Soaring prices burn a hole in common man’s ‘thali’
5 months, 2 weeks ago

Food for thought: Soaring prices burn a hole in common man’s ‘thali’

Hindustan Times  

Many households are struggling to decide what to eat and what to leave out as the prices of essential food items continue to surge, making the common man’s thali, or traditional meal, become increasingly expensive with several varieties of dals and vegetables joining the ₹100-plus club. Vegetables are also out of reach—tomatoes are selling at ₹100 per kg, potatoes at …

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 …

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report
1 year, 9 months ago

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report

News 18  

Prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies have to recover accumulated losses of Rs 18,000 crore due to high crude prices in earlier quarters, according to a CNBC-TV18 report quoting sources. Petrol prices in India have been stagnant since May 2022, when Finance Minister Nirmala Sitharaman reduced the prices …

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 …

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 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 …

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, …

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 …

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 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 …

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 …

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, …

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 …

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 …

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 …

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 …

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 …

Cooking Oil May Become Costlier Due to Russia-Ukraine War. Know Why
2 years, 9 months ago

Cooking Oil May Become Costlier Due to Russia-Ukraine War. Know Why

News 18  

Cooking oil price to increase: Prices of cooking oil are set to soar in India as a result of the ongoing crisis between the two top producers and exporters of sunflower oil — Russia and Ukraine. Hefty Import Bills Roop Bhootra – CEO, Investment Services, Anand Rathi Shares and Stock Brokers, said: “Higher oil prices are always a risk factor …

India set to shift diet to soft oils as Indonesia curbs palm oil
2 years, 11 months ago

India set to shift diet to soft oils as Indonesia curbs palm oil

The Hindu  

Mumbai: Indonesia's plan to limit palm oil exports that has driven prices to record highs is likely to make leading importer India shift to substitute soy and sunflower oils, potentially capping the market's rally, industry officials and analysts said. Typically Indonesia supplies 60% of India's palm oil imports, while Malaysia fulfills around 40%, and palm oil accounts for two-thirds of …

Duty cuts, stock limits helped curtail edible oil prices: Govt.
3 years, 1 month ago

Duty cuts, stock limits helped curtail edible oil prices: Govt.

The Hindu  

The prices of most major cooking oils dropped about ₹5-10 a litre in Delhi and as much as ₹20 in some other cities in the run-up to Diwali, Food Secretary Sudhanshu Pandey said on Friday, giving credit to the stabilisation of global prices as well as measures such as duty cuts and stock limits. However, the national average retail prices …

Retail edible oil prices drop by Rs 5-20/kg in major markets: Food Secretary
3 years, 1 month ago

Retail edible oil prices drop by Rs 5-20/kg in major markets: Food Secretary

India TV News  

Edible oil prices in the major retail markets across the country have declined by Rs 5-20 per kg after various measures, including an import duty cut, by the government, Food Secretary Sudhansu Pandey said on Friday. Edible oil prices have declined quite significantly in the range of Rs 5 and 20 per kg in the major retail markets across the …

Upward prices hit the bottom line
3 years, 1 month ago

Upward prices hit the bottom line

The Hindu  

Booming fuel, cooking oil and grocery prices have caught food business in a cleft stick. If we increase the prices customers might disappear,” says Pyare Yadav, who runs a food kiosk inside the remodelled Moazzam Jahi Market. Commercial Liquefied Petroleum Gas prices have been increased by all the State-run oil manufacturing companies by ₹ 266 for 19 kg cylinder with …

Edible oils, pulses and dry fruits beyond the reach of ordinary folks
3 years, 2 months ago

Edible oils, pulses and dry fruits beyond the reach of ordinary folks

Deccan Chronicle  

Nellore: Prices of pulses and edible oils increased considerably as compared to the same season last year, causing heartburns to the consumers. Sunflower oil price rose to Rs 160 per litre from Rs 80 to Rs 90 in 2020, while palmolein oil price increased to Rs 130 from Rs 65 or Rs 70 the previous year. Homemaker Sujatha Vinay of …

Why Opposition’s claims on oil price rise are nothing but crude propaganda
3 years, 2 months ago

Why Opposition’s claims on oil price rise are nothing but crude propaganda

Firstpost  

Fuel prices have risen not only in India, but elsewhere too. Even if one ignores it, the fact is that state government taxes account for 41.67 per cent of the final petrol price Crude oil prices have been rising steadily since the beginning of 2021 when Brent Crude was trading at about $52 per barrel, buoyed both by hopes of …

Edible Oil Prices May Come Down As Govt Slashes Custom Duties Ahead Of Festive Season
3 years, 3 months ago

Edible Oil Prices May Come Down As Govt Slashes Custom Duties Ahead Of Festive Season

ABP News  

New Delhi: In a move to check rising edible oil prices during the festival season, the base custom duties on palm, soyabean, and sunflower oils have been reduced further, bearing a revenue loss of Rs 1,100 crore, the government said on Saturday. “Import duty on edible oils is one of the important factors that impacted landed cost of edible oils …

Govt slashes edible oil duties again as prices soar
3 years, 3 months ago

Govt slashes edible oil duties again as prices soar

Hindustan Times  

The Union government on Saturday slashed duties on edible oils to a decade’s low to ease prices at home, which have spiralled on the back of high global rates. The Central government on Saturday slashed duties on edible oils to ease domestic prices, which have spiralled on the back of high global rates. The government has “further reduced the standard …

Standard duty rates on edible oils slashed
3 years, 3 months ago

Standard duty rates on edible oils slashed

The Hindu  

The government reduced the standard rate of duty on both crude and refined palm oil, soyabean oil and sunflower oil in order to reduce edible oil prices with effect from Saturday, a statement by the Ministry of Consumer Affairs, Food and Public Distribution said. The standard rate of duty on crude palm oil, crude soyabean oil and crude sunflower oil …

Edible oil prices likely to ease by December: official
3 years, 3 months ago

Edible oil prices likely to ease by December: official

The Hindu  

Soaring edible oil prices are likely to soften by December as international commodity futures show a declining trend and the arrivals of domestic oilseed crops, Food Secretary Sudhanshu Pandey said on Friday. However, he indicated that the government would be constrained from further import duty cuts to reduce oil prices as it needs to augment its own resources which have …

Cooking Oil to Become Cheaper, Import to Reduce; Cabinet Okays Rs 11,040-Cr Plan
3 years, 4 months ago

Cooking Oil to Become Cheaper, Import to Reduce; Cabinet Okays Rs 11,040-Cr Plan

News 18  

Union Cabinet on Wednesday approved a new scheme to make India self-sufficient in cooking oils. Touted as National Edible Oil Mission-Oil Palm, the new system will help the country to increase the domestic production of edible oil. “Due to the heavy dependence on imports for edible oils, it is important to make efforts for increasing the domestic production of edible …

Cooking Oil to Become Cheaper Soon as Govt Cuts Duty Charges
3 years, 5 months ago

Cooking Oil to Become Cheaper Soon as Govt Cuts Duty Charges

News 18  

Cooking oil is to become cheaper soon as the central government has decided to reduce the duty charged on crude palm oil. “The international prices of crude edible oil and refined palm oil were showing declining trend in prices over the past one month. Still, the prices of domestic refined palm oil and crude edible oil remained high. The Government, …

Cooking Oil May Become Cheaper Soon
3 years, 6 months ago

Cooking Oil May Become Cheaper Soon

News 18  

The price of edible oil, which has been witnessing a sharp rise in recent months, is likely to see a downtrend in the next two days. In the month of May, the monthly average retail prices of all edible oils soared to an 11-year high at a time when household incomes have been hit due to the COVID-19 pandemic. Now, …

Edible oil prices surge to highest level in over a decade. Here's why
3 years, 6 months ago

Edible oil prices surge to highest level in over a decade. Here's why

India Today  

Edible oil prices in India have surged to the highest level in over a decade this month, resulting in distress among millions of Indian households. The food secretary also expressed concern about the fact that edible oil prices in India are rising faster in comparison with global rates over the past few months. Official data from the Department of Consumer …

Cooking Oil Prices Surge, Government Mulls Import Duty Cut: Report
3 years, 8 months ago

Cooking Oil Prices Surge, Government Mulls Import Duty Cut: Report

News 18  

The government is likely to review the surging edible oil prices and announce relevant measures soon, reports suggest. In the wake of the increasing price, the government considers to ‘cut import duty’ on the edible oil, the Economic Times reported quoting sources. The cooking oil prices have gone up by 35-95 per cent in the last one year. The prices …

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