Prices of oilseeds and edible oils jumped by up to 3.5 per cent in spot and futures on Monday, due to apprehension of lower supply after an increase in the Customs duty, to curb cheaper import.
The strengthening rupee and low international prices, combined with a duty differential favouring import of refined edible oils, had led to immense pressure on the domestic industry, with many crushing and refining facilities on the verge of closure.cent crude crushing duty edible oil import oil refined refining seed
The on Friday announced increase in on both crude and refined edible oil, a demand that the domestic seed crushing and refining industry had been making over the past several months.
But, a marginal increase is unlikely to make a difference for consumers.cent crude crushing domestic duty edible import oil refined seed
The government on Friday hiked the on to 15 per cent from 7.5 per cent and on refined to 25 per cent from 15 per cent to curb and boost for supporting domestic farmers and refiners. At the same time, the government could have raised the duty difference between and refined palmolein to 12.5-15 per cent to support domestic refiners for value addition," SEA Executive Director B V Mehta told PTI.He said the decision would help in restricting cheaper to protect domestic farmers and processors.cent domestic edible farmers government mt oils processors refined vegetable
A potential ban on scrap metal imports in China could be a boon for imported refined copper in that country, the world's biggest consumer of the metal.
China is considering banning imports of scrap metal starting at the end of next year.biggest China copper imported imports metal refined scrap trading Wednesday
A notification issued by the department yesterday said import duty on sugar (raw sugar, refined or white sugar, raw sugar if imported by bulk consumers) has been increased from the present 40 per cent to 50 per cent "with immediate effect and without an end date".cent department duty import issued notification raw refined Sugar White
One reason that crude oil has taken a beating over the past 60 days is an issue of oversupply, and despite the fact that Russia and OPEC have both committed to cuts in production, U.S. shale companies have ramped up production and the domestic rig count has soared. One way to work off the domestic glut is to export, and some of the top U.S. companies could be big winners.companies crude domestic energy export market oil product production refined
Since the U.S. Energy Information Administration (EIA) began keeping weekly records in 1990, crude oil input to U.S. refineries has topped 17 million barrels a day just 24 times.
Since mid-August of 2015, U.S. refining capacity has increased by 659,000 barrels per calendar day, according to the EIA.barrels capacity crude oil gasoline inventories petroleum product Record refined Refinery
In a major relief for consumers, producers are looking to cut their product prices by up to 15 per cent effective immediately to pass on the similar fall in global and proportionate decline in seed prices locally.
The 15 per cent price cut in the basket is set to reduce kitchen budget by 1.5 - 2 per cent for average Indian households considering cooking oil's 10 per cent contribution to the entire kitchen expenses.analyst cent CPO cut domestic import kgs refined Rs tonnes
XP Power Ltd (LON: ) has successfully transitioned its business and now designs and manufactures the majority of the products it sells. With strong cash flow generation, the company has the resources to fund growth, whether through internal product development or via acquisition.achievement acquisition currency growth management refined reflect Revenue strategy strong