Strong oilseed crop to keep india edible oil prices stable: AWL Agri Business

Copyright © HT Digital Streams Limit all rights reserved. Industry AWL Agri Business Ltd, formerly Adani Wilmar Ltd, has reduced the price of all packaged flour under the fortune mark sold by nearly £ 4 per kilogram. (Photo: Mint) Summary edible oils are about 64% of the annual income of the business, followed by packaged food and other rapidly moving consumer goods. The company sells edible oils such as soy, sunflower, mustard, rice bran, peanuts and cotton seeds. New -Delhi: Edible oil prices in India, which have risen in response to the government’s decision to increase the import duty on cooking oils in September last year, are likely to remain stable this year, harvesting by robust domestic oilseeds and steady global supplies, AWL Agri Business Ltd (formerly Adani Wilmar Ltd). The company has also reduced the packaged wheat flour prices in response to fresh crop arrivals and the relief of inflation, which may increase consumption. “In FY26, the edible oil supply chain will remain stable worldwide as well as in India. India has done well with mustard seeds, so mustard crop is very good. The upcoming Monsoon season is going to be good. high, reconsider Tanishq wedding jewelry strategy-like oils for about 64% of the annual income of the business, followed by packaged food and other rapidly moving consumer goods. Competition of the company, known for its fortune mark of edible oils, jumped 38% to £ 18,230 crore in the January-Maart period, with a growth of 8% underlying volume. This was done to protect local farmers from the impact of high global oilseed production that could enter the country and prices depressing. India relies a lot on imports to meet its domestic edible oil needs, with about 57% gained internationally. According to the government’s data released in August last year, India imported 16.5 million tonnes of edible oils in 2022-23, with domestic production that met only 40-45% of the country’s requirements. Also read: Rural reality control: Consumers become cautious as aspiration meets in the December quarter inflation, the company has raised prices of cooking oil by at least 20%, following the government’s movement to impose higher import taxes on refined oils. The government increased the basic customs tax on crude soybean oil, rough palm oil and crude flower oil to 20% from 0%, resulting in an effective duty rate of 27.5% on these oils. The basic custom duty on refined palm oil, refined sunflower oil and refined soybean oil was increased to 32.5% of 12.5%, which resulted in an effective rate of 35.75% on refined oils. Basic Customs Law is a tax levied on imported goods to protect domestic industries by increasing the cost of imports. The company sells edible oils such as soy, sunflower, mustard, rice bran, peanuts and cotton seeds. The company also sells basmati rice and wheat flour. ‘The duty walks came in September. It pulled the whole value chain, ‘he said. According to the results of the company’s full year and March quarters announced late Monday, palm oil volumes in the value-for-money segment had a negative impact during the second half of FY25 due to a significant price rise compared to other edible oils. However, the company excluding palm oil has reported a 6% growth in the year-on-year in brand-like oil volumes for FY25. Wheat prices earlier this week reported a sharp drop of £ 5-7 per kg in wheat flour (Atta) prices over the past month, attributed to the arrival of wheat from key producing states such as Punjab, Haryana, Madhya Pradesh, Uttar Pradesh Rajasthan and Gujarat. Mallick said the company responded to the price of prices. Wheat prices have fallen 10-12% since early March, Mallick said. The company reduced the price of all packaged flour sold under its fortune brand by almost £ 4 per kilo. “We passed on the benefits to consumers in April and gradually, every week we reduce prices,” he said. “Rice prices are also low and whatever the reduction had to be given, we passed it on in March. Dal and Besan prices are also lower, sugar is also stable. In general, all prices are under control,” he added. Stable consumption Mallick said that consumption statistics look wide stable with food inflation that tends downwards. “In the future, consumption must improve because income tax benefits will kick, which will mean more cash in the hand of consumers. Overall inflation as well as food inflation comes down. Third, our labor market will be better because the government’s investment will rise. So more cash in hand will give a better consumption story,” he added. Also read: Protein forces new introductions for dairy and snack enterprises that released the government’s data released earlier this month revealed that India’s retail inflation was relieved in March to the slowest rate in more than six years, mainly due to lower food prices. Food inflation in March increased by 2.69% year -on -year, a significant decline of 3.75% in February and 8.52% the previous year. Last year, Adani Enterprises Ltd announced its exit from the 26-year-old joint venture with the Wilmar group of Singapore. After the exit, the company went to a new name – AWL Agri Business Limited. It also revealed a new brand logo earlier this week. Catch all the industry news, bank news and updates on live currency. Download the Mint News app to get daily market updates. More Topics #edible Oils Mint Specials