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India’s vegetable oil imports reported a sharp increase of 34 per cent for the month of July 2017 at 1,524,724 tonnes compared to 1,140,685 tonnes in the same month last year.
Leading agri and food FMCG company, Ruchi Soya Industries, today welcomed the hike in import duty on edible oils, announced by the government last week, accompanied by an increase in the duty differential.
India's edible oil imports are set to fall for the first time in six years as a surge in local oilseed output cuts into overseas purchases, but intake needs to fall further to fortify the health of the market, the head of a leading importer said.
MUMBAI (Reuters) - India's edible oil imports are set to fall for the first time in six years as a surge in local oilseed output cuts into overseas purchases, but intake needs to fall further to fortify the health of the market, the head of a leading importer said.
Baba Ramdev’s Patanjali Ayurved has been approached by some infrastructure firms for support that could be in the form of an acquisition or a joint venture
The food and meat processing industry on Friday largely welcomed the new tax rates announced at the GST Council meeting in Srinagar, but some of them are concerned about certain GST fitment rates.
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The Company is also exploring opportunities of utilising its unutilised capacities of crushing, refining and packing at other locations across the country with various parties including Patanjali.
The petition, asking for repayment of Rs9.63 crore, was filed by an unsecured lender to the company at the NCLT and Ruchi Soya has disputed it
While it may have tied up recently with Patanjali for physical refining and packaging of edible oils, Indore-based Ruchi Soya Industries' other joint venture with Adani Wilmar may not see the light of the day. Signed in May 2016 for introducing retail products jointly, the Adani-Ruchi Soya JV has been held in abeyance and may not fructify, say industry sources.
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