Edible Oils: Government planning to increase import duty on edible oils

Government will study to increase import duty on edible oils: Gadkari

Union minister Nitin Gadkari today said the government will curb heavy imports of cheap edible oils and the government will study to give more productive yield to oil producing farmers. Gadkari told reporters after discussions with the representatives of the processing industry in a program of Soybean Processors Association of India (SOPA), "At present, we have to import about 70 % of foodgrains of country consumption." The import of cheap edible oils is constantly increasing. On this one side the farmers of the country are not getting the right price for oilseeds, on the other hand, the domestic processing industry is also losing. "

Even below MSP crop : He said, "Our government policy is that consumers get edible oil at the right price. Simultaneously, the interests of farmers producing oilseeds are also protected. That is why the government will definitely study how much the import duty should be increased on edible oils, which will help the farmers of the country get more than the minimum support price (MSP). It is worth noting that due to falling prices during the last kharif season, farmers had to sell the soybean crop below the minimum support price (MSP) fixed by the government. After this, most farmers who grow soybean have traditionally sown pulse seeds such as tur (arhar), moong and urad in the current kharif season in the hope of better prices of the produce.

New seeds should develop : The Union Minister also said that in order to increase the productivity of soyabean per hectare new seeds should be developed and special research should be conducted in this direction. Gadkari requested the Soyabean processing industry to make nutritional value for the tribal areas especially in the use of high quantity of protein-based soya Khali (the product that survived after the soybean oil was taken out). He said, thousands of children die especially due to malnutrition in tribal areas. Therefore, soya Khali should be made of high protein-rich nutrition for these areas.

Sunflower oil demand increases: Atul Chaturvedi

Mumbai. Due to the income of the common man and the awareness of health, edible oil consumers in the country are now turning to Sunflower Oil. This is the reason that consumption of sunflower oil has increased five times in the last 15 years. According to data from the Salvat Extractors Association of India, the import of sunflowers in the year 2012-13 was 9.73 lakh tonnes, which increased to 15.16 lakh tonnes in 2015-16.

Atul Chaturvedi, President of the Salvat Extractors Association of India, says that Sunflower Oil in India could turn the whole game into the field of vegetable oil. This oil consumption is showing a steady increase and it is getting support from the availability of international market and it is competitive with soya oil. Sunflower oil import is expected to reach record level of 2 million tonnes in the year 2016-17. Chaturvedi says that the consumption pattern of consumption in edible oil consumers in India is changing and those who eat peanut oil for long period have adopted soybean oil, rapeseed / mustard oil and palm oil. In 2001-02, groundnut oil consumption was 1.216 million tonnes, which reduced to 239,000 tonnes in 2015-16. During this period, demand for sunflower oil went up by five times to reach 1.541 million tonnes from 309,000 tonnes.

Seeing imports of edible oils in India, India remains dependent on imports. The import of edible oils in the year 2015-16 is 14.57 million tonnes, with Sunflower Oil at the third place with 10% i.e. 1.5 million tonnes. Palm oil and soybean oil remained consistently topper. Import of palm oil in the year 2015-16 is 8.44 million tonnes and the import of soyabean oil is 4.23 million tonnes. However, now the government has increased the duty on import of imported edible oils so that the proper value of their produce can be given to domestic farmers. Crude palm oil prices were $670 in August, $813 for crude soya oil and $824 per tonne of sunflower CIF India port

Castor oil exports up slightly in August

Mumbai: Castor oil exports from the country increased marginally to 42917 tonnes in August compared to the same period last year. According to a senior official of the Solvat Extractors Association (SEA), there is no specific upturn in the demand of traditional importer countries. Explain that China, Japan, USA and European Union are the main importer of Indian castor oil.

Castor oil exports from India in July 2017 was 34,825 tonnes as against 48,228 tonnes in June. During the current financial year 2017-18, the export of castor oil during April to August was 225,502 tonnes. This export was 537,660 tonnes from April to March during the year 2016-17.

Traders say that Castor oil prices are likely to increase in the coming months due to lower prices. Castor Oil is currently presenting the EX-Kundla Port Free On Board (FOB) price at $1540 per tonne, which was $1520 a tonne a month ago, which was $1535 a tonne a month ago.

According to the SEA, the largest buyer of Indian castor oil is China, where 70 percent of the total exports goes. But due to weakness in China's purchasing, the export has decreased. China uses this oil to make acid which is used to make plastic, lubricants, cosmetics, candles and painting materials. Apart from this, some medical formulations also work.

Mustard crush fell 6%in September

Jaipur: In the country in September 2017, 425,000 tonnes of mustard was crushed, which was 450,000 tonnes in the previous month of August. Thus, in September the crushing of mustard reduced by 6%., said by Mustard Oil Producers Association of India (MOPA).

According to an official of MOPA, due to the inadequate availability of mustard in the wholesale markets, its crush was reduced. Apart from this, the demand for oil mills in the mustard of the mustard mill is also weak due to the slowdown in export demand. Let us know that the arrival of new mustard starts from mid-March and it arrivals in the arrivals from March, but due to the start of the off season from June, its inward dull becomes. According to MOPA, till March 15, the millers have crushed 4.3 million tonnes of mustard till date. In the meantime, the total arrival of mustard is 4.6 million tonnes.

In the first eight months (February-September) of the current season, there are 2.28 million tonnes of mustard in Rajasthan, whereas in Uttar Pradesh it is 640,000 tonnes, in Madhya Pradesh and Chhattisgarh 315,000 tonnes and Gujarat 265,000 tonnes of mustard.

Production of mustard in the country this year is expected to increase by 19% to 6.9 million tonnes, which was 5.8 million tonnes last year. With favorable weather this year, the yield of mustard is very good.