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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Two edible oil trade bodies – SOPA and SEA – at loggerheads on oil imports

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Even as prices of edible oils at the mandis in Indore continued to trade higher despite subdued festival demand riding on strong global cues, India’s rising edible oil imports has split the domestic industry in two distinct factions. One the one hand, Soybean Processors Association of India (SOPA) sought a quantitative quota and higher import […]

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Interview – Edible oil demand in India to return only slowly after coronavirus destruction

The national lockdown in India on fears of the spread of the coronavirus pandemic has hit the country’s edible oil industry hard, and demand that plunged sharply is expected to return only slowly over the next six months, Atul Chaturvedi, President of Solvent Extractors Association of India (SEA), tells Shampa Bahadur in an interview. Q. […]

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Edible oil industry seeks exemption from storage control order for domestic oils

An onslaught of harassment and seizure operations under the Storage Control Order has forced India’s edible oil industry to plead to the government to exempt domestic edible oils from the ambit of stock limit orders. Amid the lockdown, the government had imposed stock limit on oils under the Storage Control Order, 1977. The trade body, […]

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Global food commodity prices drop further in April due to coronavirus, says FAO

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World food commodity prices declined for the third month in a row during April, as the economic and logistical impacts of the COVID-19 pandemic resulted in significant contractions in demand for many commodities, the UN food agency said in its latest monthly report. The FAO Food Price Index, which tracks international prices of the most commonly-traded food commodities, […]

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No hike expected in edible oil prices in India in the short run, says industry association SEA

Despite a sharp fall in edible oil imports during the first half of the current industry year (November-October), leading sectoral association Solvent Extractors Association of India (SEA) does not foresee any immediate spike in prices in coming months. “Our monthly edible oil consumption has come down by 25 percent after lockdown crisis — 1.5 million […]

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