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: 

Category: 

Topics: 

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: 

Category: 

Topics: 

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: 

Category: 

Topics: 

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: 

Category: 

Topics: 

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: 

Category: 

Topics: 

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: 

Topics: