Latest news with #Food&PublicDistribution
Hans India
04-07-2025
- Business
- Hans India
Sugar industry has shot up to Rs 1.3L cr mark: Pralhad Joshi
Union Consumer Affairs, Food & Public Distribution Minister Pralhad Joshi on Thursday said that India's sugar sector has, under the leadership of Prime Minister Narendra Modi, grown into a Rs 1.3 lakh crore industry, driving rural prosperity, energy security and green power through reforms like record ethanol blending and Atmanirbharta in fuels. Addressing the 'Cooperative Sugar Industry Conclave 2025' at Dr. Ambedkar International Centre here, the minister said: 'It's inspiring to see how the sector's evolution is shaping a sustainable and self-reliant future for India.' The collective strength of the nation, innovation and efficiency have transformed this sector, he added. In an X post, Joshi said: 'Addressed the 'Cooperative Sugar Industry Conclave 2025' & 'National Efficiency Award Ceremony' at Dr. Ambedkar International Centre, New Delhi, where we celebrated the remarkable progress of India's sugar cooperative sector'. The minister had earlier highlighted that nearly 5 crore farmers (including family members) are engaged in the cultivation of sugarcane in India, and the industry is providing ample employment opportunities both directly and indirectly. He emphasised that the Centre, under the leadership of the Prime Minister, accords top priority to the welfare of farmers and safeguarding the interests of consumers as well as the industry, thereby ensuring collaborative efforts to improve agricultural practices. Joshi also highlighted India's commitment to advancing technology and skills in the sugar and biofuel sectors. Emphasising India's cultural and economic reliance on sugar, he noted India's status as the world's largest sugar consumer and a significant biofuel producer, achieving over 12 per cent ethanol blending with petrol and aiming for 20 per cent soon.
Hans India
03-07-2025
- Business
- Hans India
India's sugar industry has surged to Rs 1.3 lakh crore mark: Pralhad Joshi
New Delhi: Union Consumer Affairs, Food & Public Distribution Minister Pralhad Joshi on Thursday said that India's sugar sector has, under the leadership of Prime Minister Narendra Modi, grown into a Rs 1.3 lakh crore industry, driving rural prosperity, energy security and green power through reforms like record ethanol blending and Atmanirbharta in fuels. Addressing the 'Cooperative Sugar Industry Conclave 2025' at Dr. Ambedkar International Centre here, the minister said: "It's inspiring to see how the sector's evolution is shaping a sustainable and self-reliant future for India." The collective strength of the nation, innovation and efficiency have transformed this sector, he added. In an X post, Joshi said: "Addressed the 'Cooperative Sugar Industry Conclave 2025' & 'National Efficiency Award Ceremony' at Dr. Ambedkar International Centre, New Delhi, where we celebrated the remarkable progress of India's sugar cooperative sector". The minister had earlier highlighted that nearly 5 crore farmers (including family members) are engaged in the cultivation of sugarcane in India, and the industry is providing ample employment opportunities both directly and indirectly. He emphasised that the Centre, under the leadership of the Prime Minister, accords top priority to the welfare of farmers and safeguarding the interests of consumers as well as the industry, thereby ensuring collaborative efforts to improve agricultural practices. Joshi also highlighted India's commitment to advancing technology and skills in the sugar and biofuel sectors. Emphasising India's cultural and economic reliance on sugar, he noted India's status as the world's largest sugar consumer and a significant biofuel producer, achieving over 12 per cent ethanol blending with petrol and aiming for 20 per cent soon. The Minister underscored the role of biofuels in combating climate change and detailed the positive impacts of India's Ethanol Blended with Petrol (EBP) Programme on the sugar industry and farmers. Meanwhile, India's sugar production is projected to rise by 15 per cent in the 2025–26 season (October–September) to around 35 million tonnes, driven by expectations of an 'above-average' monsoon, which is likely to boost cane acreage and yields in key producing states such as Maharashtra and Karnataka, according to Crisil Ratings. The anticipated growth in output is expected to ease tightness in domestic supply and may also support higher ethanol diversion and a potential revival in sugar exports, the report said.
Business Standard
12-06-2025
- Business
- Business Standard
Center slashes basic custom duty on crude edible oils to 10%; Aims to reduce retail prices
Centre has reduced the Basic Customs Duty (BCD) on crude edible oils namely crude sunflower, soybean, and palm oils has been reduced from 20% to 10% resulting in the import duty differential between crude and refined edible oils from 8.75% to 19.25%, according to Ministry of Consumer Affairs, Food & Public Distribution. This adjustment aims to address the escalating edible oil prices resulting from the September 2024 duty hike and concurrent increases in international market prices. An advisory has been issued to edible oil associations and industry stakeholders to ensure that the full benefit of the reduced duty is passed on to consumers. 19.25% duty differential between crude and refined oils helps to encourage domestic refining capacity utilization and reduce imports of refined oils. Import duty on edible oils is one of the important factors that impacted landed cost of edible oils and thereby domestic prices. By lowering the import duty on crude oils, the government aims to reduce the landed cost and retail prices of edible oils, providing relief to consumers and helping to cool overall inflation. The reduced duty will also encourage domestic refining and maintain fair compensation for farmers.
&w=3840&q=100)
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.
Business Upturn
11-06-2025
- Business
- Business Upturn
Centre slashes import duty on crude edible oils from 20% to 10% to ease consumer prices
By News Desk Published on June 11, 2025, 19:01 IST In a move aimed at cooling retail inflation and stabilizing domestic prices, the Government of India has reduced the Basic Customs Duty (BCD) on major imported crude edible oils — including crude sunflower, soybean, and palm oil — from 20% to 10%, effective immediately. The decision was announced on June 11, 2025, by the Ministry of Consumer Affairs, Food & Public Distribution. This revision narrows the duty gap between crude and refined edible oils to 19.25%, a step designed to promote domestic refining and reduce reliance on refined oil imports. The government expects the reduced BCD to lower landed costs, offering price relief to consumers while easing food inflation pressures that have intensified since the import duty hike in September 2024. Officials emphasized that the revised structure would discourage the import of refined palmolein, redirecting demand toward crude variants, particularly crude palm oil, and thus boosting the domestic refining sector's viability and capacity utilization. A coordination meeting chaired by the Secretary of the Department of Food and Public Distribution (DFPD) directed edible oil associations to ensure the benefit is passed down to consumers. Associations have been instructed to update Price to Distributors (PTD) and Maximum Retail Prices (MRP) in line with the duty reduction and share weekly price updates with the government. This intervention, according to the ministry, comes after a detailed review of surging edible oil prices and is intended to create a level playing field for domestic refiners while safeguarding consumers from further inflationary stress. News desk at
