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India.com
5 days ago
- Business
- India.com
Centre To Start Releasing Onion From 3 Lakh Tonnes Buffer Stock Next Month With Eye On Prices
New Delhi: The government has procured 3 lakh tonnes of onion this year for its price stabilisation buffer, and a calibrated release from the stocks is expected to start from September in order to keep prices under control, the Ministry of Consumer Affairs, Food & Public Distribution said on Friday. Pertinently, unlike previous years, prices of major vegetables like potato, onion and tomato are under control this monsoon season. In the case of potato and onion, higher production in 2024-25 over the previous year ensures sufficient supply and a substantially lower retail price than last year, the statement said. "Food commodity prices have largely remained stable and well-contained throughout the current calendar year. As of today, the prices of most commodities monitored by the Department of Consumer Affairs are exhibiting either a stable or declining trend on a year-on-year basis. The reported 14 per cent decrease in the cost of a homemade thali in July 2025 further reflects the continued moderation of food inflation during the month," the ministry said in a statement. The retail prices of tomatoes prevailing at various centres across the country are influenced by temporary localised factors rather than any fundamental demand-supply imbalance or production shortfall, the statement said. In this context, the National Cooperative Consumers' Federation of India (NCCF) has been procuring tomatoes from Azadpur Mandi since August 4 and is selling them to consumers at prices with minimal margins. A similar initiative was undertaken by the NCCF in previous years as well. To date, the NCCF has sold 27,307 kgs of tomatoes at retail prices ranging from Rs 47 to Rs 60 per kg, depending on the procurement cost. Retail sales are being conducted through the NCCF's stationary outlets at Nehru Place, Udyog Bhawan, Patel Chowk, and Rajiv Chowk, as well as through 6–7 mobile vans operating at various locations across the city, according to the official statement. The current average retail price of tomatoes in Delhi, at Rs 73 per kg, is primarily the result of heavy rainfall in the northern and north-western regions of the country since the last week of July. This weather-related disruption caused prices to spike to as high as Rs 85 per kg by the end of July. However, with the recovery and stabilisation of daily arrivals at the Azadpur mandi over the past week, both mandi and retail prices have begun to decline. In contrast, major cities such as Chennai and Mumbai, which have not experienced abnormal weather conditions in recent weeks, have not witnessed a similar price surge. The current average retail prices of tomatoes in Chennai and Mumbai are Rs 50 per kg and Rs 58 per kg, respectively -- substantially lower than the prevailing price in Delhi. At present, the all-India average retail prices of tomato is Rs 52 per kg, which is still lower than Rs 54 per kg last year and Rs 136 per kg in 2023, the statement added.
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.
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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.
