Edible Oil

Individually, AWL was locked in the 5 per cent lower circuit band at Rs 664.95, while Ruchi Soya Industries, too, was down 5 per cent to Rs 1,045.45 on the BSE

Move follows ban on wheat export to rein in inflation

According to her, the country was facing various hurdles on import of edible oils due to the conflict

However, achieving self-sufficiency in edible oil will remain a distant dream unless drastic policy measures are taken

Sudhanshu Pandey, Secretary, DFPD said that due to higher market prices, a large quantity of wheat was being bought by traders at a higher rate than MSP, which was good for the farmers

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Policy support can increase edible oil production

Centre is monitoring prices regularly; has formed special teams to check hoarding

The government on Sunday said the country has sufficient stock of edible oils and it is keeping a close watch on the price as well as supply situation.

Indonesia has banned palm oil exports, but it has to liquidate stockpile and demand could be met from other sources.

Shares of Poona Dal & Oil Industries hit a record high of Rs 103.15 and were locked at the 10% upper circuit on the BSE.

It's back to square one for India, one of the biggest consumers of Indonesian palm oil, days after Indonesia had said the ban would exclude crude palm oil

Experts feel this could keep prices of major farm commodities and products dependent on them, such as poultry and meat, at an elevated level for quite some time

In return, New Delhi is offering import duty concession on edible oil

This could also be beneficial to the Indian local refining industry as any move to curb import of refined oils boosts domestic oilseeds crushing and refining

The country meets almost 45% of India's annual palm oil demand; media reports say ban put in place to check soaring domestic prices of the commodity

The shipment halt will start from April 28 and last until the government deems the shortage resolved, said President Joko Widodo in a Friday briefing.

India's 60 per cent of the edible oil requirement is met through imports

Mumbai-based SEA also requested members to ensure the supply chain is maintained smoothly and consumers are not put to any difficulty

Ministry of Consumer Affairs had imposed stock limits till March 2022, and left the decision to states to decide whether the stock limits should be based on the availability and consumption pattern