Industry body SEA warns new vegetable oil rules may challenge smaller producers
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
The government's new vegetable oil regulation marks the sector's biggest overhaul in over a decade but could burden thousands of small producers lacking digital infrastructure, industry body SEA President Sanjeev Asthana said on Wednesday.The Vegetable Oil Products Production and Availability (Regulation) Amendment Order, 2025, replaces key provisions of the 2011 framework and aligns with the Collection of Statistics Act, 2008, seeking to improve transparency and data accuracy across the value chain.While larger players may adapt quickly to the new requirements, the Solvent Extractors' Association (SEA) President warned that thousands of small and unorganised producers-many without digital systems-could struggle with mandatory portal-based registration and monthly filing requirements."The bigger question is whether the government can identify and onboard all such units," Asthana said in a statement. "Without full coverage, compliance gaps could persist despite tighter rules, defeating the objectives of the Order," he said in a statement.The amended order mandates monthly reports by the 15th of each month, detailing oil usage, production, and other operational data, raising industry concerns about data confidentiality and technical reliability.Asthana highlighted practical challenges, including the need for robust safeguards on confidentiality, limits on cross-departmental data use, and portal reliability concerns that could cause inadvertent non-compliance if technical glitches occur near filing deadlines.The industry body also called for clearer definitions for certain blended or value-added products and a reasonable transition timeline to avoid confusion and market disruption."The amendment enhances transparency, facilitates better market intelligence, and supports evidence-based policymaking", according to government statements on the regulation.Despite implementation concerns, Asthana acknowledged that a well-regulated and documented sector would ultimately improve policy-making and enhance India's global competitiveness in vegetable oils."The key will be adapting swiftly while ensuring no producer-large or small-is left behind in the edible oil industry," he said.The Solvent Extractors' Association of India represents 875 members, including about 350 working solvent extraction plants with a combined processing capacity of about 30 million tonnes annually.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
India's shifting oil map: How did Russia change the trade game? Middle East holds steady; smaller suppliers lose ground
India's oil import map has changed with Russia gaining significant ground (AI image) Russia's increasing dominance in India's oil imports has altered trading dynamics but the position of major suppliers from the Middle East has been mostly maintained. Iraq, Saudi Arabia and the UAE remain primary suppliers, while smaller exporters have seen their market presence shrink, trade statistics show, as reported by Economic Times. Deliveries from Iraq and Saudi Arabia have decreased by approximately 5% since 2021, prior to the Ukraine conflict, while UAE shipments have increased by 3%, according to energy cargo tracker Vortexa. Nevertheless, India's established Middle Eastern suppliers have also maintained their presence. In 2025, Iraqi supplies average 898,000 b/d, Saudi Arabian deliveries 640,000 b/d, and UAE contributions 448,000 b/d. Compared to 2021, Iraqi and Saudi volumes decreased by approximately 5%, whilst UAE increased by 3%. The impact has been more significant for smaller or remote suppliers. American exports have declined by 33%, Nigerian and Kuwaiti shipments have reduced by half, while Omani and Mexican supplies have decreased by over 80%. In 2025, US deliveries average 271,000 b/d, Nigerian 151,000 b/d, Kuwaiti 131,000 b/d, Omani 20,000 b/d and Mexican 24,000 b/d. Supplies from Colombia, Ecuador, Gabon and Congo have also reduced. Industry officials indicate that Indian refiners consider long-term agreements with major Middle Eastern producers essential for energy security. These agreements remained largely intact, with refiners reducing only discretionary purchases. Several suppliers, particularly Iraq, offered competitive terms to maintain market share during Russian oil's expansion, according to these officials. Where does India's oil trade with Russia stand? Despite US pressure to cut off imports from Russia, India has remained firm in continuing the supply. During 2021, Russian supply was limited to 100,000 barrels daily (b/d) of India's four million b/d imports, significantly behind Iraq, Saudi Arabia, UAE, USA, Nigeria, Kuwait and others, as per Vortexa data, cited by ET. Following the war's disruption to global commerce, Russian crude entered India extensively. By 2022, Russia became India's third-largest supplier after Iraq and Saudi Arabia. Subsequently, Russia surpassed both nations, delivering 1.76 million b/d - exceeding the combined volume from Saudi Arabia and Iraq. In 2025, Russia maintains its leading position, supplying approximately 1.7 million b/d. Russian oil, purchased predominantly through spot market transactions at reduced prices, primarily replaced higher-priced or geographically distant shipments from Africa and America. Currently, as India is being pushed to stop Russian purchases due to increasing US pressure, those previously marginalised suppliers have a chance to be significant again, officials suggest. However, India has not in any official capacity suggested a cut off from Russia but has been encouraging the ties between the two nations, with Putin set to visit India. Russia has been optimistic in building relations with Russian Embassy on Wednesday voicing their support while calling US' 'double standards' on levying additional tariffs. According to a Reuters report, the Russian embassy said, "If Indian good cannot go to US market, they can head to Russia". Further, pointing to the significance of their own oil production while supporting India, it also stated, "Discount on Russian crude oil is about 5% for India. India understands there is no chance to change supplies, profit very high for India.' 'There is no alternative to Russian crude oil as it is very competitive,' it further said, adding that India 'matters very much' for Russia. Read more: Russia slams 'unjustified' Trump sanctions on oil Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
3 hours ago
- Time of India
Powerball Drawing Results for August 20: Who wins the $643 million jackpot on Wednesday night?
Live Events — LottifyApp (@LottifyApp) (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Powerball jackpot has surged to $643 million for the drawing on Wednesday, August 20, after no ticket matched all winning numbers in Monday's draw on August 18. A winner who hits the jackpot would have the choice of receiving the full amount in annual payments or opting for a lump-sum cash payout estimated at $290.6 2025 lottery season has already produced four jackpot winners. The year kicked off on January 18 when a ticket in Oregon landed $328.5 million. That was followed by a massive $527 million win on March 29. Just weeks later, on April 26, a Kentucky player claimed $167.3 million. The most recent jackpot was hit on May 31, when a California ticket holder walked away with $204.5 those big wins earlier in the year, the jackpot has been rolling over for several weeks, fueling anticipation among Powerball players nationwide. At $643 million, the current prize ranks among the largest of 2025, drawing even more attention from hopeful of now, lottery officials have not confirmed a jackpot winner from Wednesday night's draw, leaving players across the country eagerly checking their tickets to see if they could be the next winning numbers for August 20 (Wednesday): 31-59-62-65-68 and the Powerball is: 5The next drawing will take place on Saturday, August 23, at 10:59PM Powerball ticket purchase deadline varies by state, so one shouldn't wait until the last minute. In New Jersey, sales close at 9:59PM on the day of the drawing, while in New York, the cutoff is tickets cost $2 each, with an optional Power Play for an additional $1, which can multiply non-jackpot prizes by up to 5x (except for the jackpot and Match 5), and up to 10x if the jackpot is under $150 player chooses five numbers from 1 to 69 for the white balls and one number from 1 to 26 for the red Powerball. A quick pick option is also available by the lottery machine which randomly generates range from $4 for matching only the Powerball to $1 million for matching all five white balls (except in California), and the jackpot for matching all six is available in 45 states, along with Washington, DC, Puerto Rico, and the US Virgin Islands, making it one of the most widely played lottery games in the United tickets can be bought in person at gas stations, convenience stores, grocery stores, and some airport tickets can be purchased online through the Jackpocket app in select states: Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Texas, Washington DC, and West Jackpocket app lets players choose their game and numbers, place orders, view tickets, and collect winnings directly from their phone or home computer, providing a convenient digital alternative to in-person purchases.
Economic Times
3 hours ago
- Economic Times
Nepal's claim on Lipulekh neither justified nor based on historical facts: MEA
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India on Wednesday categorically rejected Nepal's objection to a decision by New Delhi and Beijing to resume border trade through Lipulekh pass, saying Kathmandu's claims on the territory are not and China on Tuesday agreed to resume border trade through Lipulekh pass and two other trading Nepalese foreign ministry on Wednesday objected to the move to resume border trade through Lipulekh pass saying the territory is an inseparable part of 2020, Nepal triggered a border row by issuing a political map that showed Kalapani, Limpiyadhura and Lipulekh as part of the country. India had strongly trashed the affairs ministry spokesperson Randhir Jaiswal rejected Nepal's territorial claims."We have noted the comments of Ministry of Foreign Affairs of Nepal related to resumption of border trade between India and China through the Lipulekh pass," he said."Our position in this regard has been consistent and clear. Border trade between India and China through Lipulekh pass had commenced in 1954 and has been going on for decades," he said the trade had been disrupted in recent years due to COVID-19 pandemic and other developments, and both sides have now agreed to resume it."As regards territorial claims, our position remains that such claims are neither justified nor based on historical facts and evidence. Any unilateral artificial enlargement of territorial claims is untenable," he said."India remains open to constructive interaction with Nepal on resolving agreed outstanding boundary issues through dialogue and diplomacy," he added.
