TAKEN AT THE FLOOD - EDIBLE OILS
Article Abstract:
The edible oil production in the world has increased to 282.7 million tonnes now from 260.5 million tonnes in 1995-96. The vegetable oil production in the world is estimated at 84.9 million tonnes for 1998-99. The international prices of edible oil have declined to the level of last quarter of 1997. India's edible oil demand has been increasing at 3.4 percent to four percent which is equal to 350,000 to 400,000 tonnes a year. The government of India has estimated the demand supply gap of oil at 1.2 million to 1.4 million tonnes for 1998-99. India needs to import two million to 2.5 million tonnes per annum. The Indian government allowed import of sunseed, rapeseed from September 1998. The soft oil like soya, sun and rape consumption has increased from 30 percent to 55 percent and palmolein share has decreased from 70 to 45 percent. India has imported 0.81 million tonnes of edible oil between November 1998 to January 1999 and 2.08 million tonnes in 1997-98. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
FUTURES TRADING A SHOT IN THE ARM FOR EDIBLE OIL
Article Abstract:
The government of India has cleared the futures trading in edible oils, oilseeds and oilcakes. Bombay Oilseeds and Oils Exchange had demanded for futures trading of edible oil. The trading will be done from Maharashtra, Gujarat and Madhya Pradesh. The Indian edible oil market size is Rs40,000 crore. Companies like Marico Industries, Godrej are likely to enter the futures trading. The edible oil industry had earlier asked the government to increase the existing import duty of 25 percent. (rk)
Comment:
India: Edible oil industry asks government to increase existing import duty of 25%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
SALE OF EDIBLE OILS IN PACKED FORM MADE MANDATORY
Article Abstract:
The Government of India has levied a ban on the sale of edible oils in loose form. The government has passed the Eligible Oil Packaging (Regulation) Order, which makes its compulsory for edible oils including mustard oils to be sold in packed form. The order comes into effect from December 15, 1998. The government's move follows deaths due to dropsy caused by consumption of adulterated mustard oil. (ag)
Comment:
India: Govt levies ban on sale of edible oils in loose form in accordance to the Eligible Oil Packaging Order
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: FRANCE: THE SUPERMARKET OF THE THIRD MILLENNIUM. FRANCE: COOP ALSACE'S TURNOVER AND PROJECTS. Le Serpent vert d mocratise le concept bio
- Abstracts: KNOLL PHARMACEUTICALS: PAST GOOD DEEDS HELP SUN Q3 SALES UP 72% TO Rs90.43 Cr
- Abstracts: LIGHT AT THE END OF THE LONG AND DARK TUNNEL? CEMENT FACES SLOWDOWN
- Abstracts: `UNLEVEL FIELD IN CAPITAL GOODS SECTOR' GMM MAY NOT UPGRADE PUBLIC OFFER FOR NILE SHARES WILL THEY BANK ON THE GROWTH PATH SOON? - OVERVIEW
- Abstracts: DOMESTIC STEEL TO GET BACK IN SHAPE HR COIL PRICES TO BE CUT BY $60 PER TONNE. SLUMP HITS SPONGE IRON SECTOR, 3 UNITS TO DOWN SHUTTERS