India’s vegetable oil imports down by 2% in November 2020 to 11.02 lakh tonnes: SEA

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India’s vegetable oil imports fell by 2 per cent in November to 11.02 lakh tonnes due to a sharp decline in inward shipments of refined palm oil, according to industry data. The marketing year for vegetable oils (edible and non-edible oils) runs from November to October. “Import of vegetable oils during November 2020 is reported […]

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SEA pegs India’s 2020-21 edible oil imports at 12.5-13.5 million tonnes

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India’s edible oil imports are estimated to remain range-bound at 12.5-13.5 million tonnes in 2020-21 oil year due to sluggish hotel consumption in the wake of COVID-19 and a possible rise in domestic production, according to trade body Solvent Extractors Association (SEA). The country’s edible oil imports declined 13 per cent to 13.52 million tonne […]

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National Stock Exchange to launch its first agricultural commodity futures contract from 1 December, 2020

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Leading stock exchange NSE said it will launch its first agricultural commodity futures contract for crude degummed soybean oil on December 1. The contract will facilitate the soybean oils processing and allied industries in India and overseas, a perfect hedging tool for managing their price, the National Stock Exchange (NSE) said in a statement. The […]

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Mustard oil player Data eyes doubling revenues on price uptick, demand spike

Jaipur-headquartered Data Group, with a strong edible oil vertical and prominent positioning in mustard oil category in some heartland states is aiming to nearly double its topline in the next three years. According to Deepak Data, Director and Joint Managing Director of the over 40-year-old group, Corona-led restrictions has resulted in a significant spike in […]

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Torrential rains likely to trim output of India’s main summer season oilseed soybean

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Heavy monsoon rains have damaged India’s main summer-sown oilseed crop soybean, although the total output will still likely be higher than last year. “We think that the output could be around 105 lakh tons, instead of 115 lakh tons that we were anticipating at the start of the season,” said B.V. Mehta, executive director of […]

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Solvent Extractors Association requests govt to allow import of only crude palm oil to India

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Mumbai-based Solvent Extractors Association of India (SEA), the edible oil industry body has urged the government to allow import of only crude palm oil and place all refined oils under the restricted category of trade. In a recent virtual meeting with Food Ministry Secretary Sudhansu Pandey on ways to boost domestic production and reduce import of edible oils, […]

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