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<ul><li>When the government slashed import duties on palm, sunflower and soyabean oils earlier this month, it left out healthy edible oils such as olive and olive pomace oil.</li><li>These duties cuts have altered the price gap that exists between healthy and unhealthy oil options.</li><li>Healthy oil manufacturers like Modi Naturals and Marico are bearing the brunt of hefty import duties and passing it on to consumers.</li><li>Indians have already been downtrading from brands to unbranded or local items when it comes to packaged foods, now there will be a similar trend in <keyword id="57322" type="General" weightage="20" keywordseo="edible-oil" source="Orion">edible oil</keyword> too.</li></ul>Indian households have been reeling under the stress of hikes in <a href="https://www.businessinsider.in/india/news/after-fuel-government-moves-to-reduce-the-price-of-edible-oil-by-15/litre/articleshow/92793370.cms">edible </a>oil for months – a key element that determines their thalinomics. This heavily imported food product has been hit by supply chain issues, export bans and more but just as a few weeks back, they had started to <a href="https://www.businessinsider.in/india/news/after-fuel-government-moves-to-reduce-the-price-of-edible-oil-by-15/litre/articleshow/92793370.cms">cool </a>off a bit, thanks to global price <a href="https://www.businessinsider.in/india/news/after-fuel-government-moves-to-reduce-the-price-of-edible-oil-by-15/litre/articleshow/92793370.cms">drop. </a> A few companies like Adani Wilmar had reduced the sticker price too. The centre too moved to make it affordable again by <a href="https://www.livemint.com/industry/agriculture/govt-slashes-effective-import-duty-on-crude-palm-oil-to-5-5-to-cool-edible-oil-prices-11644721728342.html">slashing </a>import duties and asked the manufacturers to <a href="https://www.deccanherald.com/business/business-news/centre-asks-edible-oil-industry-to-slash-prices-1125041.html">pass it on to consumers </a>by up to ₹10-12 per litre. These duty cuts will also offset the fall in rupee value that will affect the economics of imported products. India is highly dependent on oilseeds growers outside the country as it is the world's second-largest <a href="https://economictimes.indiatimes.com/news/economy/foreign-trade/huge-edible-oil-imports-compromise-indias-interest-imperative-to-become-self-reliant/articleshow/92796952.cms?from=mdr#:~:text=India%20is%20the%20world's%20second,in%20continuous%20dependence%20on%20imports.">consumer </a>and number one <a href="https://economictimes.indiatimes.com/news/economy/foreign-trade/huge-edible-oil-imports-compromise-indias-interest-imperative-to-become-self-reliant/articleshow/92796952.cms?from=mdr#:~:text=India%20is%20the%20world's%20second,in%20continuous%20dependence%20on%20imports.">importer </a>of vegetable oil. It meets 55-60% of its needs through imports. “Since the global edible oil prices have reduced by 25-30% and the Indian government has also reduced the import duty on edible oils, the rupee depreciation against dollar and its impact on local prices will be offset by that. Hence, we don't see the price hike in edible oils in India due to rising dollar against rupee,” Akshay Modi, MD of Modi Naturals’ told Business Insider India. According to recently released data by the Ministry of Statistics and Programme Implementation, edible oil <a href="https://mospi.gov.in/documents/213904/416359//CPI%20Press%20Release%20June%2020221657627219122.pdf/dd978e29-3d3b-c0a8-5a4f-8d41ee23027f">prices are over 9% higher than they were </a>last year. After vegetables and spices, oils and fats have seen the biggest increase in the inflation rate during the same period. Healthy vs unhealthy While these duty cuts helped, they have also altered the price gap that exists between healthy and unhealthy oil options. Duty cuts were taken by the government for palm, sunflower and soyabean, and the centre has left out olive and olive pomace oil, both of which are imported too. These two oils are considered the healthiest of the old due to their antioxidant properties. “When it comes to other healthy edible oils like rice bran and olive pomace oils, the duties are still disproportionately high at 38.5%, leaving consumers with no healthy options to choose from. We urge the government to reduce the duty on crude oils of these sources, make it a level playing field and give consumers healthy options to choose from,” Modi told Business Insider India. Manufacturer of Oleev oil Modi Naturals’ five-liter olive pomace currently costs ₹2199. Dhara’s <keyword id="58302" type="General" weightage="20" keywordseo="sunflower-oil" source="Orion">sunflower oil</keyword>, on the other hand, costs ₹943 for 5 liters. The price of olive oil is already high and disproportionate duties might make them costlier by comparison. As trends indicate, Indians have already been downtrading from brands to unbranded or local items when it comes to packaged foods. And, it has already affected FMCG major Marico. Its healthy cooking oil brand version <a href="https://www.businessinsider.in/india/news/oats-and-honey-are-some-of-the-health-foods-that-indians-are-buying-less-of/articleshow/92697833.cms">Saffola declined in double digits </a>in the quarter ending June 2022. “Saffola Oils declined in double digits, having to contend with high in-home consumption in the base quarter and significant downtrading visible from super premium to mass segment in edible oils,” the company said in a statement to the stock exchanges. Marico has a range of healthy cooking oil options under its brands named Weight Watchers, Total Pro Heart and more. It also has cans of rice bran oil with other vegetable oils, providing a multitude of options for consumers searching for healthy options.

Cooking oils are getting cheaper but healthier options are as pricier as they were

<ul class="summary-list"><li><keyword id="11955096" type="UNKNOWN" weightage="60" keywordseo="indonesia" source="Orion">Indonesia</keyword>, a top palm-oil exporter, is planning to ban exports beginning on Thursday.</li><li><keyword id="12653021" type="UNKNOWN" weightage="60" keywordseo="palm-oil" source="Orion">Palm oil</keyword>, the world's most used vegetable oil, is used in cooking and a range of consumer products.</li></ul>The world's top palm-oil producer announced that it would ban exports of the commodity starting on Thursday, sending the prices of edible oils soaring.Indonesia accounts for about half of the world's supply of palm oil, the world's most widely used vegetable oil. Palm oil is used for cooking and for the production of thousands of consumer products, including biscuits, detergents, and lipsticks.In a video statement on Friday, Indonesian President <a href="https://twitter.com/jokowi/status/1517505296968536065?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1517505296968536065%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.dw.com%2Fen%2Findonesia-bans-palm-oil-exports%2Fa-61566183">Joko Widodo</a> said the move was designed to bring down domestic palm-oil prices and ensure domestic food availability in the wake of global food inflation."I will monitor and evaluate the implementation of this policy so availability of <keyword id="11900969" type="UNKNOWN" weightage="60" keywordseo="cooking-oil" source="Orion">cooking oil</keyword> in the domestic market becomes abundant and affordable," Widodo said, a <a href="https://www.reuters.com/world/asia-pacific/indonesia-ban-palm-oil-exports-shore-up-supply-soyoil-futures-surge-2022-04-22/">Reuters</a> translation reported.The move comes as Indonesia has seen recent protests over the high prices of cooking oil, with retail prices gaining more than 40% so far this year, <a href="https://www.reuters.com/article/indonesia-palmoil-president-idAFL2N2WK0MX">Reuters</a> reported.The ban is expected to be in place until further notice. Indonesian palm-oil exports were worth about $30 billion in 2021, the data provider <a href="https://www.statista.com/statistics/1095648/indonesia-palm-oil-export-value/">Statista</a> showed.Sri Mulyani Indrawati, Indonesia's finance minister, told <a href="https://www.reuters.com/business/energy/indonesias-indrawati-says-palm-oil-export-ban-will-hurt-other-countries-2022-04-22/">Reuters</a> on Friday that the palm-oil ban would hurt other countries, but that it was necessary to contain the soaring domestic prices of cooking oil.Benchmark crude palm-oil futures on the Bursa <keyword id="8695" type="UNKNOWN" weightage="60" keywordseo="malaysia" source="Orion">Malaysia</keyword> exchange jumped as much as 7% on Monday morning. They are up over 40% year to date.Prices for alternative vegetable oil also spiked in response to the impending ban on palm-oil exports in Indonesia. Benchmark Chicago soybean oil prices hit their highest levels since 2008, <a href="https://www.reuters.com/article/global-grains-idAFL2N2WN02B">Reuters</a> reported.Prices of edible oil — including palm oil — have been rising because of the war in Ukraine, as the country is a large sunflower-oil exporter. "Edible oils are often interchangeable, so a shortage of one type exerts pressure on the others," <a href="https://gro-intelligence.com/insights/indonesia-palm-oil-export-ban-drives-up-vegetable-oil-prices">Gro Intelligence</a>, a global agriculture data-analysis firm, wrote in an April 23 note.Gains in vegetable-oil prices are outpacing overall food-price increases, Gro Intelligence wrote in the report. US prices of a basket of common vegetable oils are up 41% on year, while food prices are up 25% on year."Indonesia's ban on exports is likely to further fuel global food inflation," the firm added.

Indonesia, the world's top cooking-oil exporter, says it's going to ban exports of the oil this week, and it's sent the global prices of edible oils soaring

<keyword id="8692" type="General" weightage="50" keywordseo="indonesia" source="Orion">Indonesia</keyword> has extended its zero-levy policy for palm oil exports until October 31, the <keyword id="14847454" type="General" weightage="80" keywordseo="coordinating-ministry-for-economic-affairs" source="Orion">Coordinating Ministry for Economic Affairs</keyword> said. "The extension of the export levy tariff of $0 will maintain the current momentum where the prices of crude palm oil and domestic cooking oil have stabilized, and the price of fresh fruit bunches has increased so that farmers could enjoy the benefits," said Coordinating Minister for Economic Affairs <keyword id="7883987" type="General" weightage="80" keywordseo="airlangga-hartarto" source="Orion">Airlangga Hartarto</keyword>. Indonesian palm oil producers have struggled with high stockpiles after the country imposed a three-week export ban from April 28 to May 23 to reduce domestic cooking oil prices. The temporary policy of cutting the palm oil export levy to zero from around $200 per ton was introduced by the world's largest palm oil producer in July, to boost exports and reduce oversupply in the domestic market. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/power-grid-delays-tender-that-pushes-outdated-tech-in-smart-meters/articleshow/93869617.cms">Power Grid delays tender that pushes outdated tech in smart meters</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-is-now-the-third-richest-person-in-the-world-as-per-bloomberg/articleshow/93868294.cms">Gautam Adani is now the third richest person in the world, only behind Elon Musk and Jeff Bezos</a>

Indonesia extends zero export levy on palm oil till October 31

<ul class="summary-list"><li><keyword id="12653021" type="UNKNOWN" weightage="60" keywordseo="palm-oil" source="Orion">Palm oil</keyword> prices dropped as much as 4.1% as fears over <keyword id="11955096" type="UNKNOWN" weightage="60" keywordseo="indonesia" source="Orion">Indonesia</keyword>'s export ban eased.</li><li>Indonesia will only halt exports of bulk and packaged RBD palm olein, sources told Bloomberg.</li></ul>Palm oil prices turned lower as a surprise export ban by Indonesia, the world's top cooking-oil exporter, isn't expected to be as stringent as many feared. Prices jumped as much as 7% early Monday after the Southeast <keyword id="11902482" type="UNKNOWN" weightage="60" keywordseo="asia" source="Orion">Asia</keyword> country <a href="https://markets.businessinsider.com/news/commodities/top-palm-oil-exporter-indonesia-to-ban-exports-starting-thursday-2022-4">announced that it would ban exports</a> of the commodity starting on Thursday. But palm oil prices for July delivery later dropped as much as 4.1% to $1,399 a ton in Kuala Lumpur, before closing down 2.1%, Bloomberg data shows.The export ban will only apply to bulk and packaged RBD palm olein — which accounts for 30%-40% of Indonesia's total palm oil exports — while exports of crude palm oil and RBD palm oil won't be halted, <a href="https://www.bloomberg.com/news/articles/2022-04-25/palm-oil-jumps-almost-5-as-top-shipper-indonesia-to-ban-exports?srnd=markets-vp">sources told Bloomberg</a>. Reuters also reported that <a href="https://www.reuters.com/world/asia-pacific/indonesia-export-ban-will-not-include-crude-palm-oil-sources-2022-04-25/">crude palm oil shipments would be excluded</a> from the export ban.RBD palm olein is a more processed form of the commodity that is used in industrial frying of food.About a third of global edible oil exports comes from Indonesia, and the country is responsible for about half of the world's supply of palm oil, the most widely used vegetable oil. It's used for cooking, as well as thousands of consumer products like detergents and makeup.Indonesian President Joko Widodo stunned <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> Friday, when he announced the ban, saying it is intended to bring down domestic palm-oil prices and boost domestic food availability in light of global food inflation. But a full ban would exacerbate global food inflation and hurt other countries. The war in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> has already sent prices of edible oils rising, as the warring nation is a top sunflower-oil exporter.

Palm oil prices reverse as world cooking-oil leader Indonesia reportedly will still allow some exports after surprise ban

New Delhi, The country's vegetable oil imports declined by 28 per cent to 12 lakh tonnes in January from a year-ago period, industry body <keyword id="19986409" type="General" weightage="20" keywordseo="sea" source="keywords">SEA</keyword> said on Monday. Vegetable oil imports stood at 16.61 lakh tonnes in January 2023. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> is a leading vegetable oil buyer in the world. In the first quarter (November-January) of the current oil year, total imports dropped 23 per cent to 36.73 lakh tonnes as against 47.73 lakh tonnes in the same quarter of previous year. According to the <keyword id="20059424" type="General" weightage="20" keywordseo="solvent-extractors-association-of-india" source="keywords">Solvent Extractors Association of India</keyword> (SEA), about 7,82,983 tonnes of palm oil and 4,08,938 tonnes of soft oil were imported in January this year out of total vegetables oils. As on February 1, total edible oils stock stood at 26.49 lakh tonnes, down 7.64 per cent from that of the year-ago period, it said in a statement. SEA said prices of edible oils, which are currently low, may go up this year on lower production, global economic issues and supply constraints. The availability of palm oil for edible oil requirements has come down as the two main producers, Malaysia and Indonesia, are diverting it for the production of bio-diesel. This could result in an increase in prices this year, it said. Global palm oil output was seasonally low in January-March 2024, leading to a reduction of stocks both in producing as well as importing countries, it added. India imports palm oil mainly from Indonesia and Malaysia and a small quantity of crude soft oil, including soyabean, from Argentina. Sunflower oil is imported from <keyword id="19895162" type="General" weightage="20" keywordseo="ukraine" source="keywords">Ukraine</keyword> and <keyword id="19895159" type="General" weightage="20" keywordseo="russia" source="keywords">Russia</keyword>.

India's vegetable oil imports fall 28% in January says industry body SEA

New Delhi, Dec 27 () Edible oil industry body SEA on Friday urged the government to not reduce the import duty on crude palm oil (CPO) to 30 per cent from the existing 40 per cent as it will affect domestic oilseed growers.
 The industry body also urged the government to not reduce the duty differential between CPO and refined palmolien to 7.5 per cent from existing 10 per cent in line with the ASEAN agreement, which is likely to kick in from January 1, 2020.
 In a statement, the Solvent Extractors Association of India (SEA) said there are reports that the Vanaspati Industry Association has demanded a reduction in CPO import duties to 30 per cent.
 "If this demand is accepted by the government it would seriously hurt the oilseed farmers without being beneficial to the industry," it said.
 The National Mission of Edible Oil, which is targeting about 50 million tonne oilseed production in the country in next three to five years, would also be jeopardised, it added.
 "We suggest the duty differential between CPO and refined palmolien be raised to 15 per cent or minimum 10 per cent as at present without in any way reducing duties," the SEA said.
 Currently, oilseeds are selling above Minimum Support Price (MSP) which augurs well for the future of oilseed production as the right price signals are going to farmers, it added.
 SEA further said, "Over the years, India has seriously compromised its edible oil security which has resulted in dependence on imports growing to almost 70 per cent."
 The main reason for stagnant oilseed production has been lack of interest among oilseed farmers due to poor returns.
 Palm oil shipments comprise 63 per cent of the country's total vegetable oil imports. India imported 94.09 lakh tonnes of palm oil in the 2018-19 marketing year (October-November). LUX RVK

SEA urges govt to not cut import duty on crude palm oil

New Delhi, Jan 1 () The government on Wednesday slashed import duty on refined palmolein from 50 per cent to 45 per cent, while that on crude palm oil (CPO) from 40 per cent to 37.5 per cent with immediate effect, a move that the industry opposed saying it will hurt domestic refiners.
 A notification in this regard has been issued by the finance ministry.
 The duty cut has been made under the ASEAN agreement and the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA), the notification added.
 Opposing the move, the Solvent Extractors' Association of India (SEA) said that after the reduction in import duty, the tax difference between CPO and refined palmolein has reduced from 10 per cent to 7.5 per cent.
 "This will have serious impact on domestic palm oil refining industry and oilseeds farmers. We fear import of refined palmolien would increase and capacity utilisation of our industry would be affected leading to potential loss of employment," SEA Executive Director B V Mehta said in a statement.
 After a long time, the domestic oilseeds had started selling their produce above the minimum support price (MSP). "Lower import duty would make it difficult to defend MSP and the new found enthusiasm of the oilseed farmers would be dampened," he said.
 The country's edible oil imports are now touching 70 per cent of the consumption. The duty cut would be counterproductive and contrary to the government's stated objective of increasing domestic oilseed production, he added.
 Asserting that India too should protect the interest of farmers like Malayasia and Indonesia, the SEA said Indonesia from January 1 has imposed export duty of USD 50 on CPO and USD 30 per cent on refined palmolien.
 Similarly, Malaysia has imposed export duty of USD 31 per cent on CPO and zero duty on refined palmolein which work out to be nearly 5 per cent on CPO value, thus effective duty difference is hardly 2.5 per cent only.
 "We strongly appeal to the government to increase the duty differential between CPO and refined palm oil to 15 per cent, by taking appropriate measures," the industry body added. LUX HRS

Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts

<ul><li>Earlier this week, the government reduced the base import prices of crude palm oil and soy oil.</li><li>Following this, edible oil companies have slashed prices of <keyword id="44868" type="General" weightage="20" keywordseo="cooking-oil" source="Orion">cooking oil</keyword>.</li><li>Additionally, prices of household products like soaps, biscuits, noodles and even shampoo, lipsticks and detergents will also fall as palm oil is one basic ingredient here.</li></ul>One of India’s top FMCG companies, Adani Wilmar reduced the prices of one of the priciest of groceries in recent times – cooking oil. "We are passing on the benefit of the reduced cost to our customers. We are confident the lower prices will also boost demand," said Angshu Mallick, MD and CEO at Adani Wilmar after reducing the price of Fortune refined Sunflower oil's one-litre pack by ₹10 to ₹210. This comes after Hyderabad-based Gemini Edibles &amp; Fats and Mother Dairy both cut prices of cooking oil by ₹15 on one-litre pack – bringing relief to this household essential which has been on the receiving end of inflation for months now. This sentiment could spread across more packaged products, by more FMCG majors. “We expect consumer and retail companies to pause taking further price increases though sector valuations appear rich, with improving out‐of‐home consumption,” said a report by Centrum Broking firm. In the last few months as input costs rose, <keyword id="160413" type="General" weightage="20" keywordseo="fmcg-players" source="Orion">FMCG players</keyword> have been resorting to reducing pack sizes while increasing pack prices. A reduction in base import of crude palm oil, soy oil could be passed on to other products in which it is used like — soaps, biscuits, noodles and even shampoo, lipsticks and detergents. It would mean a sharp reduction in household grocery bills, which have only been on the rise for consumers. Normal monsoon can aid the sector to remain green Lower prices would also mean the tapering demand for packaged products would also improve. Also, there are expectations that rural demand may recover on the back of higher government spending and normal monsoon. Rural demand has been hit after consumers <a href="https://www.businessinsider.in/india/news/life-in-rural-india-hit-by-a-wilted-rabi-crop/articleshow/92333426.cms">traded down to cheaper and smaller packets </a>after inflation hit their doorsteps much harder than it did for urban consumers. If and when consumers shift to smaller pack sizes, most FMCG players tend to lose market share to local and regional players who cater more variety at those price points. However, if pack prices improve, FMCG majors’ volumes will improve – which have been losing revenue for the last eight months. Rural economy is key for FMCG players as a cool off in agricultural commodities inflation will also help reduce their own costs and improve margins. “If commodity prices witness correction from the current level, margins of consumer goods companies might witness a sequential improvement from Q3 FY2023. Commentary of most consumer goods companies suggests recovery in sales volume from Q2/Q3 of FY2023, if the inflation environment stabilizes in the coming months,” said analysts at Sharekhan. An FMCG bull run The optimism around the sector picking up soon is reflected in companies share prices as well. In a weak market sentiment, shares of FMCG players were among the biggest gainers as their fortunes will improve irrespective of worries about global interest rates and a possible recession in the US. “We are very bullish on the FMCG sector from here because we believe costs are coming down from previous highs and they are in a position to pass on incremental costs to consumers, which will help to increase these companies' margins,” said Ravi Singhal, vice chairman at GCL Securities. An FMCG bull run in a market would actually buck the trend of an overall lack of enthusiasm in stocks — proving the theory that no matter what happens, people will keep buying essentials albeit at the right price. <div type="image" title="color fmcg" height="900" width="1200" msid="92336486" hostid="261"></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/life-in-rural-india-hit-by-a-wilted-rabi-crop/articleshow/92333426.cms">Vanished savings, trading down to cheaper essentials – life in rural India hit by a wilted Rabi crop</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/india-heads-into-the-thunderstorm-zone-right-after-the-heatwave-orange-alerts-issued/articleshow/92333863.cms">India heads into the thunderstorm zone right after the heatwave, orange alerts issued</a>

Cooking oil prices drop - soaps, noodles and detergents might follow suit

The Centre should create a buffer stock of mustard seeds of at least 2.5 million tonnes, like pulses, to enhance domestic production and reduce imports of cooking oils, the <keyword id="1086632" type="General" weightage="20" keywordseo="central-organization-for-oil-industry-and-trade" source="Orion">Central Organization for Oil Industry and Trade</keyword> (<keyword id="1598377" type="General" weightage="20" keywordseo="cooit" source="Orion">COOIT</keyword>) said on Tuesday as part of its wish list ahead of the budget. "The procurement for the proposed creation of buffer stock should be made at market price at the very beginning of crop season, which will ensure oil processing units would operate throughout the year," the COOIT, an apex body for the vegetable oils sector, said in a statement. It also wants the government to widen the gap between import duties of crude edible oils and refined edible oils. India imported edible oils worth Rs 1.17 lakh crore, an all-time high, in the 2020-21 oil marketing year ended October, mainly due to a sharp rise in global prices. COOIT feels that its high time the central and state governments focus on increasing domestic production of oilseeds. "We urge the government to launch a dedicated scheme in the upcoming budget with a significant allocation to encourage farmers for cultivation of various oilseeds crops like mustard, soyabean and sunflower," COOIT chairperson Suresh Nagpal said. The government had in August 2021 launched the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to boost domestic production of palm oil. "A similar initiative should be undertaken to increase the cultivation of mustard," he said. "Like wheat and rice, a small quantity of <keyword id="589337" type="General" weightage="20" keywordseo="mustard-oil" source="Orion">mustard oil</keyword> can be supplied every month to over 80 crore beneficiaries covered under the National Food Security Act at a subsidised rate. This will prompt farmers to cultivate mustard," the COOIT chairperson said. The government has offered an increased MSP for mustard this year and the results have started showing with the area under mustard cultivation likely to increase by 25 per cent and mustard production estimated to be at 110 lakh tonnes. "If the government creates a buffer stock of 25 lakh tones of mustard, it will further encourage mustard cultivation and also act as a price stabilization mechanism in case of sharp fluctuations in mustard prices as it was witnessed during 2021," Nagpal said. The association also strongly said that the difference between import duty on crude edible oils and refined edible oils should be larger to protect the interest of domestic processors. Earlier the difference was 11 per cent, which is now at 5.5 per cent. "This is adversely impacting crude palm oil (CPO) refining industry in India and hence, duty differential needs to be increased,a the statement said. Established in 1952, COOIT is the national apex body representing the interests of the entire vegetable oil sector in the country and its members include state-level associations, prominent manufacturing/business, trade, and export house. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/decline-in-car-bike-and-scooter-sales-is-now-hurting-hdfc-bank/articleshow/88960539.cms" style="">Shrinking car and two-wheeler sales is now hurting India’s biggest private bank</a>\ <a href="https://www.businessinsider.in/careers/news/8-in-10-people-are-looking-to-switch-jobs-in-2022-linkedin-says/slidelist/88966651.cms">8 in 10 Indians are looking to switch jobs in 2022</a>

Centre should create buffer stock of mustard: Oil industry association

<ul class="summary-list"><li>"Titane" is one of the most talked about movies at this year's <keyword id="6362016" type="UNKNOWN" weightage="60" keywordseo="cannes-film-festival">Cannes Film Festival</keyword>.</li><li>The film follows a woman who is impregnated by a car and then pretends to be a long lost boy.</li><li>The movie has divided festival goers, but this writer found it to be surprisingly forgettable.</li></ul>Before heading in to see Julia Ducournau's new movie, "Titane," I was working out how best to shield my eyes from the expected squeamish horrors I was about to see."Titane," which just won the Palme d'Or, is Ducournau's follow up to her 2016 movie "Raw" (about a vegetarian who tastes meat for the first team and develops a craving for human flesh). This is perhaps the most talked about film at this year's <keyword id="6366702" type="UNKNOWN" weightage="60" keywordseo="cannes">Cannes</keyword> Film Festival.The movie follows a woman who becomes impregnated by a car and then pretends to be the missing son of a desperate father who lost his boy 10 years ago. The talk of the body horror film was thus: uneasy, graphic violence that has made divided festival goers, with some apparently walking out or even vomit ting. I prepared myself for these extremities before heading into my screening only to find that, like all things overblown by exaggerated headlines, it was far more stomach-able than I imagined.<h2>Why you should care: Find out what the hype and why it's so divisive is for yourself</h2>When a film like "Titane" garners so much attention, it's always worth seeing the thing yourself just to work out what the hype is about. So if you're a cinema lover and you want to stay up to date with the most talked about movies, this one will tick that box.As I was walking out of the theater, one festival goer remarked how much he liked it, calling it a "great film" and stating that the movie has a good shot of winning the Palme d'Or, the festival's highest prize.Another, more seasoned festival goer, who clearly did not know, disagreed however: "That? That was the worst film I've ever seen at Cannes."That sums up "Titane," which did indeed go on to win the Palme d'Or this year, the film festival's highest prize.In Peter Bradshaw's two star <keyword id="45374" type="CITY" weightage="60" keywordseo="Review">review</keyword> for <a href="https://www.theguardian.com/film/2021/jul/14/titane-review-julia-ducournau">The Guardian,</a> he called the movie "labored and crudely directed" with a "feeble" final scene. Meanwhile David Ehrlich of <a href="https://www.indiewire.com/2021/07/titane-review-julia-ducournau-1234650972/">Indie Wire</a> said "'Titane' is the work of a demented visionary in full command of her wild mind," giving it an A- review.It's always worth seeing something so divisive.<div type="image" title="Titane Vincent Lindon" height="1200" width="1600" msid="84513178" hostid="261"></div><h2>What's hot: Strong performances and unsettling imagery</h2>Vincent Lindon is one of Cannes Film Festival's most respected actors. He previously won best actor at the 2015 Cannes Film Festival for "The Measure of a Man," and his performance here is standout as the desperate father who will do anything to have his son back.The film's lead actress, Agathe Rousselle, is less verbose but still has an appropriately dangerous and terrifying presence. She doesn't need words to scare the audience, her actions do that for her - and Rousselle does the job efficiently.Ducournau is also a very talented filmmaker, with her command of tone and atmosphere pitch-perfect in this strange, strange movie. There is some excellent use of imagery, here, too, with car oil a repeatedly-used image used to unsettle audiences. Weirdly, it's surprisingly touching at parts, with a nice moment between Lindon and Rousselle singing the Macarena together while giving someone CPR.Some critics have also noted the powerful use of gender roles in this movie, with Rousselle's Alexia assuming the identity of a boy, while the father-son relationship that soon develops is both batsh-t crazy and completely unnerving.<h2>What's not: For a film marketed to be explosive and divisive, it's actually pretty forgettable</h2>The movie starts off shocking enough - Rousselle's Alexia f--ks a car. There's also a smattering of indulgent violence, the sort of violence that helped to make Quentin Tarantino famous, but Ducournau's onscreen splatters have a bit more of an edge to them.But after I got past the initial shock of the body-horror elements, which climaxes surprisingly early on in the movie, I found the movie's tank to be pretty empty.The film clearly revels in its weirdness - it's as pyschologically f---ed up as it is physically - but I never found the weirdness entertaining. I just found it boring and devoid of any value, with characters only shaded in and not enough substance to go with the obvious style. Other critics will absolutely disagree, but this film is bound to attract these split views.<h2>The bottom line: admirable in parts, pretentious in others, and very, very Cannes</h2>This is my first Cannes Film Festival, and if there was ever a movie that filled the stereotype of an artsy festival film, it's this one."Titane" will earn itself plenty of admirers who will love the film, but it will also earn plenty of people who can't stand it. What was most disappointing to me is that it didn't provoke either reaction from me - I certainly didn't love it, but I didn't hate it either.

All anyone at Cannes can talk about is Palme d'Or winning film where a woman gets impregnated by a vintage Cadillac

New Delhi, Dec 13 () Vegetable oil imports fell marginally to 11.28 lakh tonne in November due to decline in inward shipments of non-edible oil, according to Solvent Extractors' Association. 
Out of the total vegetable oil import, the shipments of edible oil rose to 10,97,424 tonne in November 2019 from 10,73,353 tonne in the same month last year.
Non-edible oils import, however, fell to 30,796 tonne compared to 60,450 tonne in the year-ago period, SEA said in a statement.
"Import of vegetable oils during November 2019 is reported at 11,28,220 tonne compared to 11,33,893 tonne in November, 2018," the statement said.
Oil year runs from November to October. 
Import of refined palm oil drastically reduced following the imposition of 5 per cent safeguard duty on shipments from Malaysia with effect from September 4, 2019. 
The import of refined palm oil stood at 2.57 lakh tonne in August and 2.64 lakh tonne in September. However, shipments reduced to 1.18 lakh tonne in October and stood at 1.22 lakh tonne in November.
During November 2019, import of refined oil (RBD Palmolein) increased to 1,24,909 tonne from 1,08,911 tonne in November 2018. Import of crude oil increased to 9,75,015 tonne from 9,64,442 tonne in November 2018.
India's vegetable oil imports increased 3.5 per cent to 155.5 lakh tonne in 2018-19 marketing year, due to increase in inward shipments of refined oils. MJH ANU

Vegetable oil imports down marginally to 11.28 lakh tonne in Nov

New Delhi, Feb 13 () Vegetable oil imports fell 6 per cent to 11.96 lakh tonnes in January due to restriction on inward shipments of refined palm oil, an industry body said on Thursday. Import of vegetable oils (comprising edible and non-edible oils) during last month is reported at 11,95,812 tonnes compared to 12,75,259 tonnes in January 2019, Solvent Extractors' Association of India (SEA) said in a statement.Edible oil imports fell to 11,57,123 tonnes from 12,10,603 tonnes, while shipments of non-edible imports declined to 38,689 tonnes from 64,656 units during the period under review, the data showed.During the first three months of 2019-20 oil marketing year, the overall import of vegetable oils is down 5 per cent at 34,51,313 tonnes compared to 36,20,316 tonnes in the corresponding period of the previous year. Oil year runs from November to October."Director General of Foreign Trade (DGFT), Ministry of Commerce &amp; Industry, issued notification dated 8th January, 2019, placing import of RBD Palmolein and Palm Oil under 'restricted list' to regulate excessive import in to India. The import will now be subject to license to be issued by DGFT," the statement said.During first quarter of current oil year, import of refined oil (mainly RBD palmolein) decreased to 2,66,859 tonnes from 4,06,799 tonnes in the same period of last year. However, import of crude oil increased marginally at 30,94,068 tonnes compared to 30,22,951 tonnes during the same period of last year."During November'19-January'20, palm oil import has decreased to 20,04,657 tonnes (60 per cent) from 23,18,763 tonnes (68 per cent) during the same period of last year. However, soft oils (sunflower, soyabean and rapeseed) import increased to 13,56,270 tonnes (40 per cent) from 11,10,987 tonnes (32 per cent) during the same period of last year mainly due to reduction in spread between Palm Oil and Soft Oils, makes soft oils import more viable," the statement said. MJH RUJ

Veg oil imports down 6% at 11.96 lakh tonnes in January 2020

New Delhi, Mar 13 () Vegetable oil imports fell 10.5 per cent to 11.12 lakh tonnes last month, mainly due to lower shipments of refined palm oil, according to industry data. Import of vegetable oil during February 2020 is reported at 11,12,478 tonnes compared to 12,42,533 tonnes in February 2019, the Solvent Extractors' Association of India (SEA) said in a statement. Out of total vegetable oil imports last month, 10,89,661 tonnes was edible oil, while 22,817 tonnes was non-edible oil, SEA said. The overall import of vegetable oil during November 2019 to February 2020 fell 6.1 per cent to 45,63,791 tonnes compared to 48,62,849 tonnes in the corresponding period of the previous year. Oil year runs from November to October. "In view of placing RBD Palmolein under restricted list with effect from January 8, 2020, its import has drastically reduced in February 2020 at 33,677 tons," SEA said. "Import of crude sunflower and crude soyabean oil sharply increased as spread between palm oil and soft oils reduced to nearly USD 75 to 80 per tonne, encouraging larger import of soft oils," it added. MJH RVK

You Searched For "crude palm oil" and got 13 results

Cooking oils are getting cheaper but healthier options are as pricier as they were

Karuna Sharma

Indonesia, the world's top cooking-oil exporter, says it's going to ban exports of the oil this week, and it's sent the global prices of edible oils soaring

Huileng Tan

Indonesia extends zero export levy on palm oil till October 31

IANS

Palm oil prices reverse as world cooking-oil leader Indonesia reportedly will still allow some exports after surprise ban

Phil Rosen

India's vegetable oil imports fall 28% in January says industry body SEA

PTI

SEA urges govt to not cut import duty on crude palm oil

PTI

Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts

PTI

Cooking oil prices drop - soaps, noodles and detergents might follow suit

Bhakti Makwana

Centre should create buffer stock of mustard: Oil industry association

IANS

All anyone at Cannes can talk about is Palme d'Or winning film where a woman gets impregnated by a vintage Cadillac

Jacob Sarkisian

Vegetable oil imports down marginally to 11.28 lakh tonne in Nov

PTI

Veg oil imports down 6% at 11.96 lakh tonnes in January 2020

PTI

Veg oil imports down 10.5 pc to 11.12 lakh tonnes in Feb

PTI

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