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Business Standard
24-06-2025
- Business
- Business Standard
Landed prices of imported edible oils move up despite halving of duty
While exporters have raised prices to nullify duty cuts, concerns over the Israel-Iran conflict, and the expected global diversion of additional vegetable oil for biofuel blending schemes are factors New Delhi Listen to This Article The landed price of major edible oils has risen by 3-5 per cent during the week ended June 20 as compared to the previous week that ended in June 13, data from industry bodies show. The upward movement is despite India lowering import duties on crude oils by 10 percentage points, a 50 percent reduction, last month to ease inflationary pressures and to ensure steady supplies. In fact, consumer price index-based inflation (combined) for most edible oils has remained stubbornly high since January 2025 despite overall food inflation coming down, prompting the Department of Food and Public Distribution (DFPD) to
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Business Standard
11-06-2025
- Business
- Business Standard
Govt asks edible oil industry to pass tax cut benefits to retail users
The government had reduced the Basic Customs Duty (BCD) on crude edible oils-specifically crude sunflower oil, soybean oil, and palm oil-from 20 per cent to 10 per cent on 31 May New Delhi The Department of Food and Public Distribution (DFPD) held a meeting with leading edible oil associations and industry stakeholders. An advisory was issued, instructing them to pass on the benefits of the reduced duty to consumers, said the Ministry of Consumer Affairs, Food & Public Distribution. The government had reduced the Basic Customs Duty (BCD) on crude edible oils—specifically crude sunflower oil, soybean oil, and palm oil—from 20 per cent to 10 per cent on 31 May. This revision has widened the import duty differential between crude and refined edible oils from 8.75 per cent to 19.25 per cent. The advisory directed all stakeholders to immediately revise the Price to Distributors (PTD) and Maximum Retail Price (MRP) in accordance with the new import duty, ensuring that cost savings are transmitted across the supply chain to end consumers. PTD is the rate at which manufacturers or importers sell to distributors. It includes production costs, taxes, and distributor margins. MRP is the maximum price that can be charged to consumers, encompassing all taxes and profit margins throughout the supply chain. Weekly reporting of price adjustments Edible oil associations were advised to ensure that their members implement immediate price adjustments and share updated brand-wise MRP data with the department on a weekly basis. The DFPD also provided a standardised reporting format for revised MRP and PTD submissions. 'This decision follows a detailed review of the sharp rise in edible oil prices after last year's duty hike. The increase led to significant inflationary pressure on consumers, contributing to rising food inflation,' the government statement said. 'This adjustment (tax reduction) aims to address the escalating edible oil prices resulting from the September 2024 duty hike and concurrent increases in international market prices,' said the Ministry of Consumer Affairs, Food & Public Distribution. Explaining the rationale behind the revised import duty structure, the ministry stated: 'A 19.25 per cent duty differential between crude and refined oils helps encourage domestic refining capacity utilisation and reduce imports of refined oils.' Boost to domestic refining capacity This move is expected to lower the landed cost of crude edible oils, reduce retail prices, and provide relief to consumers. It also aims to promote the utilisation of domestic refining capacity, thereby curbing the import of refined oils. 'The timely transmission of this benefit through the supply chain is imperative to ensure that consumers experience a corresponding decrease in retail prices,' the ministry added.
Hans India
01-05-2025
- Business
- Hans India
Centre to launch Depot Darpan portal on May 20 to ensure food storage quality
New Delhi: The government said on Thursday it will launch the Depot Darpan portal and mobile application on May 20, with an objective to ensure that the food storage depots meet the highest quality and performance standards. The move will enable depot managers to evaluate infrastructure, operational and financial performance on a near real-time basis, said the Department of Food and Public Distribution (DFPD). A total of around 2,278 warehouses including those owned by FCI and CWC and those hired from state agencies/private will be onboarded in this digital initiative. Depot Darpan portal and mobile application will be formally inaugurated by Union Minister of Consumer Affairs and Food and Public Distribution, Pralhad Joshi, on May 20. According to the government, in this initiative, depot managers upload geo-tagged inputs of the infrastructure available in their depot, generating automated ratings and action points for timely improvements. The system ensures 100 per cent validation by the supervisory officers and random third-party audits. The warehouses are assessed based on two main categories: infrastructural aspects which include safety standards, storage conditions, environmental, technology adoption and statutory parameters and operational efficiency aspects which include stock turnover, losses, space utilization, manpower expenses, and profitability. Each category is evaluated independently, and the warehouse receives a Star rating based on the composite scoring from both parameters. Depot Darpan is uniquely integrated with smart warehousing technologies, creating a seamless digital monitoring ecosystem that includes: CCTV Surveillance and IoT sensors, monitoring key parameters such as Carbon dioxide and Phosphine levels, fire hazards, humidity, unauthorised entry and temperature in real time thereby, ensuring security and efficiency in food grain storage. According to the Department, the IoT-enabled monitoring includes ambient sensor, carbon dioxide, phosphine gas sensor, gate shutter sensor and fire/smoke sensor. In addition, AI based technology for bag counting, ANPR (Automatic Number plate Recognition) for vehicle identification and tracking, and face recognition technology (FRS) for access control and security are also deployed in warehouses on pilot basis. Depot Darpan mobile app allows supervisory officials to track warehouse performance anytime, anywhere, supporting better decision making. Automated reports are used in regular reviews, leading to continuous and seamless improvements in infrastructure and efficiency.
