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Time of India
06-08-2025
- Business
- Time of India
When it rains, it soars! Kitchen budgets on fire
Indian households are grappling with rising food prices, fueled by heavy monsoon rains, reduced crop production, and a weaker rupee. Key staples like edible oils, rice, and vegetables have seen significant price jumps, impacting kitchen budgets. Wheat flour and sugar prices have also increased, with the depreciating rupee further inflating the cost of imported edible oils. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Kolkata | Pune: Indian households are feeling the heat from a surge in food prices, driven by heavier-than-expected monsoon rain, lower crop production, and a weakening the past one month, prices of key staples — including edible oils, rice, various flours and vegetables — have risen sharply on a sequential basis, according to retail and agribusiness executives, putting pressure on kitchen budgets across the of mustard and sunflower oil, rice, and tomatoes have jumped as much as 50% sequentially in the last two-four weeks. Wheat flour (atta), refined flour (maida), semolina (suji), and sugar have also seen price increases of up to 6% over the past month and are 8-12% higher year-on-year.A sharp depreciation in the rupee — from 85.90 per US dollar on July 15 to 87.82 on August 5 — has lifted the price of imported edible oils.'A two-rupee difference in exchange rate makes imported oil costly,' said Angshu Mallick, managing director of AWL Agri Business , the country's largest packaged edible oil company. Mallick also estimates mustard seed production at 10- 10.5 million tonnes this year, well below the government's forecast of 11.5-12 million have forecast the rupee to remain weak due to uncertainty around US tariffs. Mustard oil price has risen nearly 30%, or Rs 40 per litre, over the past three soybean, sunflower and palm oils, the rise has been 10-15% in the last one month. 'Prices of palm, sunflower, and soybean oil—that make up over 85% of India's edible oil consumption—have surged since the past two months due to limited supply and low inventories,' said Rahul Guha, senior director at Crisil Ratings. Guha, however, said the domestic weighted average prices are expected to witness a marginal decline year-on-year in the current fiscal given the impact of recent duty customs duty on crude edible oils such as sunflower, soybean, and palm oils was halved in June to 10% to control prices. The jump in the price of coconut oil has been much steeper than others: from Rs 160-170 per litre a year ago to Rs 480-490 in the coastal areas of Konkan and Rs 520-530 in 'unprecedented levels of inflation' in copra has been driven by a supply-demand gap created by a 9% drop in productivity of coconut due to uneven weather patterns and unseasonal rains in April and May, said Saugata Gupta, chief executive of Marico , one of the largest players in branded coconut oil.'Principally, it is the inelasticity of certain sources of demand that accentuates the demand supply gap during such times as copra can't be imported,' the CEO told analysts on Monday. Gupta, however, said prices have started to soften a be sure, overall food inflation remains contained currently, having peaked in 2022 and staying high till 2024. India's food prices were in deflation zone in June at -1.06% YoY due to lower prices of vegetables, pulses, meat and fish, cereals, sugar, confectionery, milk and dairy products, and spices, as per the latest government executives said the current spike in inflation in some commodities is temporary and should ease in two-three months when the new crop comes Guha said the price increase of edible oil should ease after October-November harvest with better yields anticipated for palm and the past one month, prices of atta, maida, and suji have increased 5-5.5%, while wheat is up 3%, shows industry attribute the rise in wheat price to stock limits imposed on traders, millers, wholesalers and retailers, pushing open market prices above the government's minimum support price. Sugar prices at factory gates are up 7-8% over last year due to lower crop yield, and have risen 4% in the last month, fueled by a lower sales quota and festival demand. Rice prices too have surged 10-15% in the last two weeks after Bangladesh and Kenyan governments announced plans to import will buy 900,000 tonnes of rice, while Kenya will import 500, of the Swarna variety have increased from Rs 29/kg to Rs 32.50.'The current price movement is directly linked to the export demand,' said Keshab Kumar Halder, managing director of Halder Venture Ltd , an exporter of rice.
Economic Times
06-08-2025
- Business
- Economic Times
When it rains, it soars! Kitchen budgets on fire
Kolkata | Pune: Indian households are feeling the heat from a surge in food prices, driven by heavier-than-expected monsoon rain, lower crop production, and a weakening rupee. In the past one month, prices of key staples — including edible oils, rice, various flours and vegetables — have risen sharply on a sequential basis, according to retail and agribusiness executives, putting pressure on kitchen budgets across the country. Prices of mustard and sunflower oil, rice, and tomatoes have jumped as much as 50% sequentially in the last two-four weeks. Wheat flour (atta), refined flour (maida), semolina (suji), and sugar have also seen price increases of up to 6% over the past month and are 8-12% higher year-on-year. A sharp depreciation in the rupee — from 85.90 per US dollar on July 15 to 87.82 on August 5 — has lifted the price of imported edible oils. 'A two-rupee difference in exchange rate makes imported oil costly,' said Angshu Mallick, managing director of AWL Agri Business, the country's largest packaged edible oil company. Mallick also estimates mustard seed production at 10- 10.5 million tonnes this year, well below the government's forecast of 11.5-12 million tonnes. Economists have forecast the rupee to remain weak due to uncertainty around US tariffs. Mustard oil price has risen nearly 30%, or Rs 40 per litre, over the past three soybean, sunflower and palm oils, the rise has been 10-15% in the last one month. 'Prices of palm, sunflower, and soybean oil—that make up over 85% of India's edible oil consumption—have surged since the past two months due to limited supply and low inventories,' said Rahul Guha, senior director at Crisil Ratings. Guha, however, said the domestic weighted average prices are expected to witness a marginal decline year-on-year in the current fiscal given the impact of recent duty cuts. The customs duty on crude edible oils such as sunflower, soybean, and palm oils was halved in June to 10% to control prices. The jump in the price of coconut oil has been much steeper than others: from Rs 160-170 per litre a year ago to Rs 480-490 in the coastal areas of Konkan and Rs 520-530 in Bengaluru. The 'unprecedented levels of inflation' in copra has been driven by a supply-demand gap created by a 9% drop in productivity of coconut due to uneven weather patterns and unseasonal rains in April and May, said Saugata Gupta, chief executive of Marico, one of the largest players in branded coconut oil. 'Principally, it is the inelasticity of certain sources of demand that accentuates the demand supply gap during such times as copra can't be imported,' the CEO told analysts on Monday. Gupta, however, said prices have started to soften a bit. To be sure, overall food inflation remains contained currently, having peaked in 2022 and staying high till 2024. India's food prices were in deflation zone in June at -1.06% YoY due to lower prices of vegetables, pulses, meat and fish, cereals, sugar, confectionery, milk and dairy products, and spices, as per the latest government data. Industry executives said the current spike in inflation in some commodities is temporary and should ease in two-three months when the new crop comes in. Crisil's Guha said the price increase of edible oil should ease after October-November harvest with better yields anticipated for palm and sunflower. BROAD-BASED RISE In the past one month, prices of atta, maida, and suji have increased 5-5.5%, while wheat is up 3%, shows industry data. Executives attribute the rise in wheat price to stock limits imposed on traders, millers, wholesalers and retailers, pushing open market prices above the government's minimum support price. Sugar prices at factory gates are up 7-8% over last year due to lower crop yield, and have risen 4% in the last month, fueled by a lower sales quota and festival demand. Rice prices too have surged 10-15% in the last two weeks after Bangladesh and Kenyan governments announced plans to import rice. Bangladesh will buy 900,000 tonnes of rice, while Kenya will import 500,000. Prices of the Swarna variety have increased from Rs 29/kg to Rs 32.50. 'The current price movement is directly linked to the export demand,' said Keshab Kumar Halder, managing director of Halder Venture Ltd, an exporter of rice.
Time of India
02-08-2025
- Business
- Time of India
Cottonseed conclave in Vijayawada pushes innovation, mechanisation
1 2 3 Vijayawada: The 6th Cottonseed, Oil & Meal Conclave 2025, jointly organised by the Solvent Extractors' Association of India (SEA) and the All-India Cottonseed Crushers' Association (AICOSCA), began in the city on Saturday. The two-day event, themed "Revitalising Cottonseed: Growth Pathways for Oil, Meal and Beyond", aims to explore the expanding role of cottonseed in India's edible oil security, livestock nutrition, and rural economy. The event which was inaugurated by Ponnur MLA Dhulipalli Narendra drew over 300 delegates, including scientists, industry leaders, policymakers, and traders. Discussions covered a broad range of topics, including cotton cultivation, post-harvest management, oil extraction innovations, feed formulation, branding, risk management, and future market prospects. The event comes at a time when India's cotton acreage dropped by 9.8% in 2024–25, prompting calls to maximise the value of cottonseed by-products. Experts also emphasised the need to shift from manual to mechanised cotton production and processing to improve efficiency and reduce losses. Key speakers included SEA vice president Angshu Mallick, AICOSCA chairman Sandeep Bajoria, vice-chairman P Veera Narayana, and ICAR-CIRCOT Director Dr SK Shukla. Discussions highlighted that while India currently produces 11.5–12 lakh tonnes of cottonseed oil annually, the potential stands at 18 lakh tonnes—critical to reducing edible oil imports. The conclave also hosted the Shri Nilesh Patel Innovation Awards to recognise scientific advancements that promote sustainability and value-added cottonseed products. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Mint
17-07-2025
- Business
- Mint
AWL share price jumps over 8% on record Q1 revenue; should you buy, sell or hold?
AWL share price soared more than 8% during Thursday's trading session, following the company's announcement of its highest quarterly revenue to date for the June '25 quarter, indicating strong underlying momentum in key areas despite a year-on-year drop in net profit. This surge follows a robust 21% year-on-year revenue increase for Q1FY26, which amounted to ₹ 17,059 crore, representing the company's best-ever performance for the first quarter. The revenue growth was propelled by increased realisations in the edible oil sector, which contributed ₹ 13,415 crore, reflecting a 26% year-on-year rise. AWL Agri Business Ltd has announced a 24% decrease in consolidated net profit to ₹ 237.95 crore for the first quarter of this fiscal year, attributed to increased expenses. The net profit was recorded at ₹ 313.20 crore during the same period last year. Total expenses rose to ₹ 16,954.14 crore, up from ₹ 13,789.67 crore. For the April-June quarter, revenue from edible oil increased by 26% year-on-year (YoY) to ₹ 13,415 crore, despite a 4% annual decline in volumes. In the first quarter, the food and FMCG sector reported revenue of ₹ 1,414 crore, reflecting an 8% YoY decline, impacted by several temporary challenges, as stated by the company. The revenue from industry essentials grew to ₹ 2,229.88 crore, compared to ₹ 1,986.26 crore previously. The company experienced a temporary drop in volume, mainly due to the integration of its regional rice operations and subdued consumer demand. However, it is noteworthy that the core categories achieved robust volume growth, with revenue increasing by 21% YoY, supported by higher realizations in edible oil, according to Angshu Mallick, MD & CEO of AWL Agri Business Ltd. In the 2024-25 fiscal year, AWL Agri Business Ltd, formerly known as Adani Wilmar Ltd, reported a net profit of ₹ 1,225.81 crore alongside a total income of ₹ 63,910.28 crore. Last December, the Adani Group revealed its decision to withdraw from Adani Wilmar Ltd, a joint venture with the Singapore-based Wilmar Group. Brokerage house, Nuvama Institutional Equities, indicated that due to a poor performance in Q1, they are lowering their FY26E/27E EBITDA forecasts by 6.8% and 5.3%, respectively. Updating their projections to FY27, the brokerage has calculated a sum-of-the-parts (SotP) target price of ₹ 397, down from the previous ₹ 401; they continue to recommend a 'BUY'.
Mint
15-07-2025
- Business
- Mint
Cooling edible oil prices, good monsoon stoke AWL's optimism for strong demand
New Delhi: AWL Agri Business Ltd (AWL), which sells edible oils, flour and food, expects a significant rise in demand, particularly ahead of the festive season, spurred by a recent cooling in edible oil prices and strong monsoon showers that are key to the rural economy. This price decline is a direct result of the government's decision to lower duties on crude edible oil imports. Angshu Mallick, managing director and chief executive officer (CEO), AWL Agri Business, said in an interview with Mint that the company has fully passed on these price reductions on edible oils to consumers, and is expecting a pickup in demand July onwards. In the April-June quarter, the maker of Fortune edible oil reported a 5% year-on-year decline in overall volumes, even as the company posted a 21% rise in revenue, reaching ₹ 17,059 crore. The volume dip in the June quarter was largely attributed to edible oil and food. To be sure, the entire industry experienced a volume contraction in the edible oils category. Mallick emphasized that the government's decision to slash import duties on crude edible oils on 31 May led to delayed purchases, as buyers awaited price stabilization, hurting overall consumption. 'Due to the import duty cut on 31st of May, the entire trade was waiting, and they wanted to understand the impact of the duty cut, how the prices would be. So, everybody delayed their purchases. As a result, we had an impact due to that,' he said. Additionally, out-of-home consumption and B2B segments—purchases by other packaged food companies—remained subdued, reflecting a broader slowdown in consumer demand for categories like frying chips and snacks. Effective 31 May, the basic customs duty on crude soybean oil, crude palm oil and crude sunflower oil was halved to 10%. This change came after over eight months of higher import taxes on these oils. The effective import duty on these three products, which includes basic customs duty and additional fees, now stands at 16.5%, down from the previous 27.5%. 'Price (of edible oil) has come down between 1st April and now by almost 6 to 7%. Palm oil has come down by 14%. Palm (oil) was always costly and because of that the entire out-of-home consumption was also subdued. I am sure July onwards, we will see better consumption story,' he said. During the quarter, the food segment's performance was significantly impacted by the consolidation of the non-basmati rice business, where the company reduced its geographical footprint to just a few key states, which contributed to lower volumes in this category. The company also sells pulses and besan (gram flour), soya nuggets, sugar and poha (rice flakes). Revenue from the food and FMCG segment declined 8% year-on-year during the quarter to ₹ 1,414 crore due to multiple headwinds. However, excluding the G2G rice business, revenue from the segment increased by 4% year-on-year. G2G refers to rice traded under government-to-government agreements, often to meet food security requirements. The G2G business, involving rice sales to government-appointed export agencies, generated ₹ 316 crore in FY25, but was largely discontinued after Q3FY25, the company said in its June quarter earnings. In the wheat flour category, volumes were affected by soft consumer demand, higher brand premiums and increased local competition. With further planned initiatives, the company anticipates volume growth will continue to exceed industry rates, as stated in its earnings statement. Looking ahead, Mallick pointed to a rebound during the upcoming festive season. 'Festivals are around the corner—they are early this year. Demand will pick up; along with a good monsoon. Overall, it looks like urban and rural demand will be very robust till December. Prices are stable and these prices are very affordable,' he added.
