Edible oils Current Affairs, GK & News
Business Summit on National Mission on Edible Oils-Oil Palm in NE states
On October 6, 2021, “National Mission on Edible Oil- Oil Palm Business Summit” was held at Guwahati for North Eastern States. Highlights The summit was organised in line with Prime Minister’s vision for holistic and balanced progress of North East. Summit was started under the chairmanship of Union Agriculture Minister Narendra Singh Tomar. Summit showcases ..
Month: Current Affairs - October, 2021
Category: States Current Affairs • Summits and Conferences
Topics: Business Summit on National Mission on Edible Oils-Oil Palm • Edible oils • National Mission on Edible Oils-Oil Palm • Northeast India
Cabinet approves National Mission on Edible Oils
Cabinet approved the ‘National Mission on Edible Oils — Oil Palm (NMEO-OP)” with the financial outlay of Rs 11,040 crore. Key Points This approval was given in order to promote the domestic cultivation of oil palm in next five years. It will help in reducing India’s dependence on imports. The decision was taken after Prime ..
Month: Current Affairs - August, 2021
Category: Government Schemes Current Affairs
Topics: Aatmanirbhar Bharat • cabinet approval • Edible oils • National Mission on Edible Oils • NMEO-OP • Oil Palm
India cuts Crude Palm Oil Import Tax
India has cut import tax on crude palm oil from 15 % to 10% for three months. This new duty would be effective from June 30, 2021. Key Points India is world’s biggest importer of vegetable oils. But it has been struggling to bring down edible oils prices. Thus, decision to reduce the import tax ..
Month: Current Affairs - June, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: Crude oil Imports • Crude Palm Oil • Crude Palm Oil Import • Edible oil import • Edible oils • Tax Cut
Govt reduced Tariff on Edible Oil Import
Union government has reduced tariff value for import of edible oil including palm oil by USD 112 per tonne. This move will lead to reduction in domestic prices. Key Points Central Board of Indirect Taxes and Customs (CBIC) reduced the tariff import value of crude palm oil by USD 86 per tonne. Import price on RBD ..
Month: Current Affairs - June, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: Central Board of Indirect Taxes and Customs (CBIC) • Edible oil import • Edible oils • Oilseed consumption in India • Oilseeds Production
Imports of Edible Oil decline in India by 32.44%
The Solvent Extractors Association of India reported that edible oil imports in India has declined by 32.44% in March 2020. This is because, India, the largest importer if vegetable oil in the world has reduced its imports due to the threats of COVID-19. Highlights The report released by the association highlighted that India feeds its ..
Month: Current Affairs - April, 2020
Category: India Nation & States Current Affairs
Topics: Edible oil import • Edible oils • india-malaysia • India-Russia • India-Ukraine • Kashmir Issues • Soybean
CCEA approves bulk export of all edible oils
The Cabinet Committee on Economic Affairs (CCEA) has approved for removal of prohibition on export of all varieties of edible oils except mustard oil. The proposal was forwarded by Ministry of Commerce & Industry. The CCEA has also approved empowering Committee, chaired by Secretary, Department of Food & Public Distribution to review the export and ..
Month: Current Affairs - March, 2018
Topics: Agriculture • Business • Cabinet Decisions • CCEA • Economy • Edible oils • exports • oilseeds