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Mumbai, The <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="261" meta.entityid="RBI">RBI</keyword> expects the price of the Indian basket of <keyword id="20023856" type="General" weightage="20" keywordseo="crude-oil-imports" source="keywords">crude oil imports</keyword> to be around $85 per barrel going ahead amid geopolitical tensions which have "imparted significant uncertainty" to the outlook. India exports around 85 per cent of its crude requirement, and soaring oil prices which have often crossed the $90 a barrel mark in recent years, tend to drag down the economy. The RBI's monetary policy report released on Friday states that international crude prices exhibited sizeable two-way movements in the second half of 2023-24, falling in October-December 2023 to around $75 per barrel on slowing global demand amidst weak manufacturing activity and easing demand for transportation fuels as well as supply increases from non-OPEC countries. However, amidst intensifying hostilities in the <keyword id="19904316" type="General" weightage="20" keywordseo="middle-east" source="keywords">Middle East</keyword>, deep output cuts by OPEC plus cartel, and incidents of supply outages, international crude prices moved higher from mid-December reaching an average close to $85 per barrel in March, the report points out. "The spread between global petroleum product prices and crude prices eased from its recent peaks in mid-2022 but remains elevated by historical standards in view of demand-supply refinery mismatches. Taking into account these factors, the baseline assumption for the crude price (Indian basket) is retained at $85 per barrel," the report states. Regarding the outlook for the rupee, the report states that the nominal exchange rate of the Indian currency saw two-way movements in the range of Rs 82.8-83.4 per US dollar in the second half of 2023-24. Taking into consideration the uncertainty around US dollar movements, the ebbs and flows of global capital flows and international crude oil prices, the baseline assumption for the exchange rate is revised to Rs 83 per US dollar. It also sees as a positive factor in the global growth forecast for 2024 being revised upwards by 20 bps to 3.1 per cent by the <keyword id="19916590" type="General" weightage="20" keywordseo="international-monetary-fund" source="keywords">International Monetary Fund</keyword> (IMF) in its January 2024 update of the <keyword id="20389978" type="General" weightage="20" keywordseo="world-economic-outlook" source="keywords">World Economic Outlook</keyword> (WEO) from its October 2023 projection. Global economic growth is expected to increase marginally to 3.2 per cent in 2025 and global trade growth (goods and services combined) is projected to accelerate from 0.4 per cent in 2023 to 3.3 per cent in 2024 and further to 3.6 per cent in 2025. However, the headwinds from protracted geopolitical tensions and increasing disruptions in trade routes pose risks to India's growth outlook, according to the report. Taking all these factors into consideration, India's real GDP growth for 2024-25, is projected at 7.0 per cent, with Q1 at 7.1 per cent; Q2 at 6.9 per cent; Q3 at 7.0 per cent; and Q4 also at 7.0 per cent. The risks are evenly balanced, the report adds.

RBI sees price of India's crude oil imports at $85 a barrel in FY25

The <keyword id="26362" type="General" weightage="20" keywordseo="government" source="Orion">government</keyword> has reduced the <keyword id="6357502" type="General" weightage="20" keywordseo="import-duty" source="Orion">import duty</keyword> on refined soybean and sunflower oils to 12.5 per cent from 17.5 per cent with effect from Thursday to boost the domestic availability and check prices, a finance ministry notification said. Usually, India imports 'crude' soybean and sunflower oils and not their 'refined' form. Yet, the government has reduced the duty on refined soybean and sunflower oils. With this reduction, the effective duty on refined edible oils stands at 13.7 per cent, including cess on social welfare. The effective duty on all major crude edible oils is 5.5 per cent. Commenting on this, Solvent Extractors' Association of India (SEA) Executive Director B V Mehta said the move may have some temporary impact on market sentiments but unlikely to attract imports. "Basically, government wants to keep the prices of edible oils under check. Even with less duty difference between crude and refined soya and <keyword id="58302" type="General" weightage="20" keywordseo="sunflower-oil" source="Orion">sunflower oil</keyword>s, chances of shipment of refined soya and sunflower <keyword id="6359072" type="General" weightage="20" keywordseo="oil" source="Orion">oil</keyword> may not be commercially viable but have some temporary sentiment impact on market," Mehta said in a statement. Currently, there are no import of refined soybean and sunflower oils. According to SEA, the delayed onset of monsoon in Kerala by a week led to delay in sowing. "The Met Department has forecast near normal monsoon, however El Nino is not ruled out completely and may spoil the chances of normal monsoon, which may impact kharif crop and domestic availability of vegetable oils in next oil year 2023-24," Mehta added. India relies on imports to fulfill its demand-supply gap in edible oils. It meets nearly 60 per cent of edible oil demand through imports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/sonam-kapoor-plans-to-return-to-bollywood-with-2-yrf-films/articleshow/101014785.cms">Sonam Kapoor plans to return to Bollywood with 2 YRF films</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/automotive-digital-marketplace-truecar-lays-off-24-of-workforce/articleshow/101013596.cms">Automotive digital marketplace TrueCar lays off 24% of workforce</a>

Govt cuts import duty on refined soybean & sunflower oils to 12.5%

India's merchandise <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> slipped by 2.83 per cent to USD 33.90 billion in November while the <keyword id="113688" type="General" weightage="20" keywordseo="trade-deficit" source="Orion">trade deficit</keyword> narrowed to USD 20.58 billion, according to government data. <keyword id="35091" type="General" weightage="20" keywordseo="imports" source="Orion">Imports</keyword> also fell by 4.33 per cent to USD 54.48 billion in November, the data released by the commerce ministry on Friday showed. Cumulatively, the country's merchandise exports in April-November FY2023-24 contracted by 6.51 per cent to USD 278.8 billion. Imports were also down by 8.67 per cent to USD 445.15 billion in the eight-month period due to a fall in <keyword id="522549" type="General" weightage="20" keywordseo="oil-imports" source="Orion">oil imports</keyword>. Oil imports dipped to USD 113.65 billion as against USD 139.29 billion in April-November 2022-23. The trade deficit - difference between imports and exports - during the eight-month period was USD 166.35 billion against USD 189.21 billion in the corresponding period last year. Briefing reporters here, Commerce Secretary Sunil Barthwal said that given the global situation, India's export numbers are good. All key export sectors have recorded negative growth during the April-November period of this fiscal and that include petroleum products, <keyword id="44517" type="General" weightage="20" keywordseo="gems" source="Orion">gems</keyword> and jewellery, chemicals, garments, and engineering goods. Sectors which registered positive growth include electronics, iron ore, and pharma. The other import segments whose inbound shipments are contracted include coal, coke; pearls, precious and semi-precious stones; and fertiliser. However, gold imports increased by 21 per cent to USD 32.93 billion. Electronic goods' imports have risen to USD 57.83 billion during April-November 2023-24 against USD 51.89 billion in the same period last year. The gold imports in November rose by 6.24 per cent to USD 3.44 billion. Oil imports during the month, however, dipped by 8.47 per cent to USD 14.93 billion. Barthwal said the global trade is suffering but, "we are holding the fort". He added that GDP growth of many countries are "not so high", interest rate regime is not softening, global conflicts are aggravating, irrespective of these issues, "we are doing well". Exports in October had grew by 6.21 per cent. According to the data, the estimated value of services export for November is USD 28.69 billion, as compared to USD 26.93 billion in November 2022. During the eight-month period, these exports stood at USD 220.66 billion as compared to USD 208.30 billion in April-November 2022. The World Trade Organisation (WTO) has forecast that global trade will grow only by 0.8 per cent in 2023. According to UNCTAD report, global trade expected to shrink by nearly 5 per cent in 2023 amid geopolitical strains and shifting trade patterns.

India's exports dip 2.83% to $33.9 bn in Nov; trade deficit narrows to $20.58 bn: Govt data

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

<ul class="summary-list"><li>Russian oil shipments to India fell by 420,000 barrels per day, the International Energy Agency reported.</li><li>Falling output has clipped Russia's monthly energy revenue, which slid nearly 1% from January.</li></ul>India pulled back on purchasing Russian crude in February, as Western sanctions took a toll on trade between the two countries. Oil shipments to India fell by 420,000 barrels per day, totalling 1.2 million barrels imported daily, according to the latest <a href="https://www.iea.org/reports/oil-market-report-march-2024" target="_blank" rel="noopener">report</a> from the International Energy Agency. New Delhi's strained demand contributed to a slip in Russian crude revenue for the month. Reduced oil and oil product exports earned Moscow nearly 1% less than in January, notching $15.69 billion last month.Though in line with December's revenue, Russia's global crude shipments fell to 4.75 million barrels per day, below a year-end peak of 5 million barrels per day.Partially offsetting lower output were rising crude prices, with Urals, the benchmark Russian crude mix, rising over $4 per barrel in February. However, Indian buyers have turned away from Russia for this same reason, given that discounted barrels were the <a href="https://markets.businessinsider.com/news/commodities/crude-oil-prices-india-russia-trade-geopolitics-opec-supply-puri-2024-2?utm_medium=ingest&amp;utm_source=markets">main driver</a> behind New Delhi's demand. In 2023, India became the biggest buyer of Russian seaborne crude, as Western sanctions eroded Russian prices.Now, Indian refineries are moving away from long-term contract deals with Russia, and the country's largest state-owned company, Indian Oil, is contemplating a decrease of Russian crude in its <a href="https://markets.businessinsider.com/news/commodities/india-russia-oil-trade-enegy-rosneft-sanctions-war-crude-bharat-2024-3">long-term supply</a>.It's a shift spawned by tighter enforcement of Western sanctions this year, as the US and its allies <a href="https://markets.businessinsider.com/news/commodities/russia-shadow-fleet-oil-tankers-sanctions-ukraine-enforcement-price-cap2024-2?utm_medium=ingest&amp;utm_source=markets">penalize entities</a> that breach restrictions, such as the $60-a-barrel price cap on Russian crude.In February, the US followed up with a <a href="https://markets.businessinsider.com/news/commodities/russia-oil-trade-crude-india-discount-barrel-sanctions-price-cap-2024-2">slew of new sanctions</a>, adding to freight costs and diminishing the oil discount, Indian sources previously told Reuters.Such factors are a key reason India has already started turning back to its traditional energy trade with the Middle East, especially after Saudi Arabia offered its own crude discount in January.That same month, Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri warned that trade would shift away from Russia if sanctions were violated."When Russian prices don't conform, we buy from Iraq, the UAE, Saudi Arabia," he <a href="https://markets.businessinsider.com/news/commodities/india-mideast-russian-crude-exports-discounts-sanctions-price-cap-puri-2024-1?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">then said</a>.But while India backed down through February, shipments to China rose to 2.2 million barrels a day, marking a month-on-month jump of 100,000 barrels per day, the IEA said.

India imported 420,000 fewer barrels of Russian oil a day in February amid tightening sanctions

One must have to be living under a rock if they haven’t yet come across those reels of “health” influencers raving about the many health benefits of <keyword id="21778414" type="General" weightage="20" keywordseo="omega-3" source="keywords">omega-3</keyword> and <keyword id="21766014" type="General" weightage="20" keywordseo="fish-oil-supplements" source="keywords">fish oil supplements</keyword>. From aiding weight loss in those suffering from PCOS to promoting bone and skin health, there’s little these tiny golden capsules can’t achieve, as far as they are concerned. To their credit, fish oil supplements do seem to be helpful to a certain extent and their role in protecting against <keyword id="21778415" type="General" weightage="20" keywordseo="cardiovascular-risks" source="keywords">cardiovascular risks</keyword> is well documented. However, a recent <a href="https://bmjmedicine.bmj.com/content/3/1/e000451">study</a> conducted by a team of international researchers has thrown the fish oil supplement's presumed safety into question. And understandably, ripples are being caused. <cmsannotation type="cmsannotation" annotationid="Contradictory results surprise scientists" comment="subhead" text="Contradictory results surprise scientists">Contradictory results surprise scientists </cmsannotation>After monitoring 400,000 participants in the UK Biobank for an average of 12 years, researchers were in for a surprise! The findings revealed a 13% higher risk of <keyword id="20710883" type="General" weightage="20" keywordseo="atrial-fibrillation" source="keywords">atrial fibrillation</keyword> — irregular heart rhythm — and a 5% heightened risk of strokes in those with no prior history of cardiovascular disease. But for individuals who already had <keyword id="19898369" type="General" weightage="20" keywordseo="heart-disease" source="keywords">heart disease</keyword>, the fish oil supplements resulted in a 15% lower risk of progression from atrial fibrillation to heart attack, and 9% lesser chances of advancing from heart failure to death. This is in line with previous studies indicating how Omega-3 fatty acids, especially EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), are beneficial for reducing cardiovascular complications. However, there is a catch: the study found mixed results for the effects of omega-3 supplements. Interestingly, women and non-smokers who were healthy at the outset saw 6% higher risks of going on to have heart attacks, heart failure or strokes. Conversely, older people and men seemed to have derived greeted benefits from fish oil, with the transition from good health to death being 11% and 7% lower respectively. It is important to note that this study is based entirely on data from mostly white people, so it doesn’t precisely account for the impacts of fish oil supplements on other ethnicities. Then again, scepticism about the side effects of fish oil supplements on people with no history of heart disease isn’t new. Groups that have traditionally consumed a lot of fish containing omega-3 fatty acids have been known to have lower instances of heart disease. Fish oil supplements, the pill form of these polyunsaturated fats, have a decades-long track record of proven benefits for heart health — for people who already have these risks being key here. Now, according to a 2023 Lancet study, cardiovascular diseases are the leading cause of death and disability in India. In that regard, omega-3 supplements do have quite a bit of merit in the Indian market. Nutraceutical businesses have already gained traction cross-country and are growing increasingly popular. What’s more, this market is only expected to grow further due to the rise in product knowledge, disposable income and the desire for <keyword id="20523304" type="General" weightage="20" keywordseo="preventive-medicine" source="keywords">preventive medicine</keyword> and self-treatment. <cmsannotation type="cmsannotation" annotationid="Are over-the-counter products safe?" comment="subhead" text="Are over-the-counter products safe?">Are over-the-counter products safe? </cmsannotation>Based on older studies, as well as the recent one, the risks that fish oil supplements pose do outweigh the benefits in healthy people. So if you’ve been chugging fish oil capsules in hopes that it would help you circumvent health complications in the future, it might be a good idea to take a step back and think. The problem with <keyword id="21778416" type="General" weightage="20" keywordseo="over-the-counter-supplements" source="keywords">over-the-counter supplements</keyword> is that there’s no real proof that they are actually helping with anything. And given recent controversies in some of the food products being manufactured in India, caution regarding food-grade products is paramount. There is no need to villainise fish oil supplements just yet. However, getting advice and a prescription from a certified healthcare professional who knows your specific health conditions might be a better idea than just relying on half-baked and generalised information from the internet. Furthermore, opting for <keyword id="21778417" type="General" weightage="20" keywordseo="pharmaceutical-grade-fish-oils" source="keywords">pharmaceutical-grade fish oils</keyword> is considered a safer bet to take in high doses. Over-the-counter fish oil supplements contain a low dose (about 1 gram) of two different omega-3 fatty acids DHA and EPA. Prescription fish oil pills contain about 4 grams of either a DHA/EPA combo or pure EPA — the compounds mainly responsible for cleaning you of triglycerides. With a barrage of nutraceuticals having entered our pharmacies, we might need a lot more research in the Indian context to determine just how safe these fish oil supplements are. In the meantime, stay informed and stay safe.

Is it time we stopped taking over-the-counter fish oil supplements?

<ul><li>India was enjoying a discount of $12.6/bbl from Russian imports in Q1 of FY23, which came down to $8.8/bbl in Q1FY24.</li><li>Russia is going for voluntary cuts to ensure the “oil market remains balanced”.</li><li>Oil cartel OPEC+ has curbed output but it has been going up in Iran and the US. </li></ul>India has been enjoying the discounted <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword> from Russia for over a year now. But the discount that India seems to be enjoying is coming down even as Russia remains one of its biggest suppliers as it imported crude to the tune of $12.4 billion in Q1FY24. “This year, in Q1FY24, while India continues to import crude oil at discounted rate from Russia compared with other countries; the premium has actually gone down relative to last year,” says Jahnavi Prabhakar, economist at Bank of Baroda. In the April-June quarter of FY23, the premium that India enjoyed from <keyword id="8112813" type="General" weightage="20" keywordseo="russian-crude" source="Orion">Russian crude</keyword> – that’s the difference between international prices and Russian supply — was at $12.6 per barrel. In the same quarter this year, it has come down to $8.8 per barrel. Russia also a<a href="https://www.reuters.com/business/energy/russia-cut-oil-exports-by-300000-bpd-september-2023-08-03/">nnounced in early August</a> that it’s planning to cut crude oil production by 300,000 barrels per day. Prime Minister Alexander Novak had said that the country is going in for voluntary cuts to ensure the “oil market remains balanced”. It will also cut its exports by that quantity, he added. This is in addition to a pledge to reduce its oil output by around 500,000 barrels per day, or some 5% of its oil production, from March to the end of the year. Falling discounts <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Time period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avg international crude price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Russian crude price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Discount/premiums </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$112 per barrel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$99.4 per barrel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.6 per barrel </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$77.7 per barrel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$68.9 per barrel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.8 per barrel </td></tr></tbody><tbody></tbody></table>Source: Bank of Baroda The 3x jump in Russian imports In spite of the changing discounts, Russia has turned one of India’s largest suppliers over the last one year. India is one of the world’s top importers of crude oil thanks to its high demand and a large population. In Q1FY23, Iraq was one India’s top suppliers — and has imported over $10.8 billion worth of crude oil from the country. Back then, India’s crude bill to Russia was around $4.6 billion. Now, thanks to its discounted offerings, Russia became the most important source for import of crude oil. In Q1 FY24, the figure now stands at $12.4 billion — which is thrice of what it was last year. “In Q1FY24, the average price of international crude oil stands at $77.7/bbl. During this period, UAE and Saudi Arabia have been able to provide crude oil at much higher rates of $86/bbl and $85/bbl respectively. Notably, Russia has been providing crude oil at much discounted rates than its global counterparts at $69/bbl,” says Prabhakar. Crude under pressure On the other hand, the crude oil dynamics have also undergone many changes — with uncertainty of Chinese demand, slow growth across the world, recession in Europe and more. In June, Saudi Arabia the <a href="https://www.businessinsider.in/finance/news/crude-oil-prices-may-hit-100/bbl-after-opec-decision-say-analysts/articleshow/100763692.cms">kingpin of oil cartel OPEC+ </a>consisting of 13 oil producing nations – decided to go in for another round of production cuts – by 1.6 barrels per day. They came to this decision after the earlier round of production cuts did not produce the necessary effects. Experts expect oil prices to remain under pressure in the short term due to changing production dynamics. “Oil prices have surged above $80 per bbl recently after OPEC+ curbed the output. US waterborne crude exports this month are set to hit the highest since March amid lower exports from the Middle East. At the same time, oil output is rising elsewhere. Exports from Iran surged to 2.2 mbpd in August, US output surged to 12.7 mbpd last week,” said Ravindra Rao, VP – head commodity research at Kotak Securities.

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RBI sees price of India's crude oil imports at $85 a barrel in FY25

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Govt cuts import duty on refined soybean & sunflower oils to 12.5%

PTI

India's exports dip 2.83% to $33.9 bn in Nov; trade deficit narrows to $20.58 bn: Govt data

PTI

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

PTI

India imported 420,000 fewer barrels of Russian oil a day in February amid tightening sanctions

Filip De Mott

Is it time we stopped taking over-the-counter fish oil supplements?

Ashmita Gupta

India imports $12.4 billion worth of crude from Russia but discounts are waning

Katya Naidu

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