-PTI/ The Tribune Says out of total imports, maximum is spent on edible oils, fertilisers and Crude oil New Delhi: Prime Minister Narendra Modi on Monday expressed concern over India’s high import bill for edible oil, fertilisers and Crude oil, and said there is a need to work in a mission mode to make the country self-reliant and reduce import dependence. With international energy prices soaring after the Russia-Ukraine War, India will spend...
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Edible oil makers urge for lifting of futures trade ban on crude palm oil and soy oil on commodity exchanges -Sandip Das
-Financial Express SEA has stated that the ban on futures trade has deprived importers of hedging their price risks in rupee-denominated soya oil and crude palm oil futures on Indian exchanges. The Solvent Extractors’ Association (SEA) of India, a body of edible oil manufacturers, on Monday demanded lifting of ban on futures trade in soya oil and crude palm oil (CPO) on the commodity exchanges imposed on December, 2021, to ensure risk...
More »Concessional customs duty on imported edible oil extended till March -Gireesh Chandra Prasad
-Livemint.com The government had in October 2021 announced concessional import duty on crude soybean oil, crude palm oil and crude sunflower oil till March 2022, which was once extended till end of September. This has now again been extended till next March, as per the order. NEW DELHI: The finance ministry has extended concessional basic customs duty and agriculture and infrastructure development cess applicable on edible oils by six months till end...
More »Has inflation peaked? -Lokeshwarri SK
-The Hindu Business Line Inflation has been moderating off late but RBI is unlikely to let its guard down * Has inflation peaked in India? It’s too early to conclude that inflation has peaked in India. While CPI inflation has been drifting lower since the April 2022 peak of 7.79 per cent, the decline is very gradual. The July reading of 6.71 per cent is also well above the upper limit of RBI’s...
More »Centre, RBI bid to curb inflation
-The Telegraph Food prices, which account for nearly half of the consumer price index basket, softened last month The finance ministry and the Reserve Bank of India (RBI) are in discussions on the inflation trajectory amid the easing of global commodity and Crude oil prices. A Reuters poll of economists forecast retail inflation at a five-month low in July at 6.78 per cent. But it is still above the RBI’s upper threshold...
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