Latest news with #Mallick
Time of India
2 days ago
- Business
- Time of India
Price of Gobindobhog rice doubles amid low supply & rising demand from South India, Middle East
Geographical Indication tagged Gobindobhog rice prices have doubled due to a demand-supply mismatch, surging from Rs 90 to Rs 180 per kg. Increased demand from South India and the Middle East, coupled with a 40% drop in last year's Kharif crop yield, has fueled the price hike. Prices of other rice varieties like Sona Masoori are also rising. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The price of Geographical Indication tagged Gobindobhog rice has doubled at the retail end in the last seven months as there has been a demand-supply mismatch . Demand has shot up from southern parts of the country and the Middle East, while there is a shortage in last year's Kharif crop A kg of Gobindobhog rice has surged from Rs 90 in January to Rs 180 in July. This aromatic rice is only grown in West Bengal but is also a favourite in the South for making biriyani termed as Jeerakasala rice. In fact, Gobindobhog rice prices have even surpassed basmati rice which is hovering between Rs 120-140 per kg at the retail Mallick, managing director of AWL Agri Business (formerly Adani Wilmar), said Gobindobhog crop yield has been very low this year (Kharif 2024) which started arriving from December. 'The new crop is expected to come this December and till then price fall is unlikely,' he to trade sources, Gobindobhog rice yield volume is down by almost 40% in 2024-25 compared to the previous fiscal. In FY24, Bengal had produced 4.34 lakh tonnes of this Agarwal, CEO of RiceVilla, a rice marketing and exporting company, said South India prefers biryani with old Gobindobhog as the flavour of the rice makes it more delectable.'Since last year's stock is less, the buyers from South and also from Saudi Arabia, Dubai, Qatar are buying heavily to create an inventory. The new crop, which will come in December, will not be suitable for biryani. Also Bengali diaspora across the globe buy this rice,' he Molla, managing director of Kojagari Industries, a miller and exporter from Burdwan district of West Bengal, said prices may fall by 10-15% when the new rice the Gobindobhog rice is on fire, prices of other rice varieties like Sona Masoori have started rising as the Bangladesh government has announced that it will buy rice from private parties to meet its domestic demand.'Rice exporters from Bengal, Uttar Pradesh and the South are aggregating their stocks close to the ports or at Petrapole (India-Bangladesh land border) to ship the rice once the tenders are floated by the Bangladesh government. It is being said that the neighbouring nation is likely to buy 9 million tonnes of rice this year,' Agarwal added.
NDTV
2 days ago
- NDTV
3 Arrested For Stealing Money From Delhi's Businessman House
Balasore: Delhi Police arrested a man from Odisha's Balasore district who, along with his two associates, had stolen over Rs 1 crore from the house of a businessman in the national capital, an officer said on Monday. Delhi Police, with the help of Odisha Police, arrested Kashinath Mallick (30) from Bhimei Gaon under Iswarpur police outpost in Nilagiri area of Balasore district on Sunday and recovered Rs 20 lakh, the officer said. Mallick used to work as a cook in the house of the businessman. His two other associates used to work as domestic help, and separately, they had stolen Rs 1.10 crore from the businessman's house and had fled Delhi recently. While Mallick was arrested from his house in Balasore district, the other two, identified as Ashutosh Mallick (27) and Jagabandhu Mallick (30), were arrested from Delhi railway station and Patna Bus stand, respectively. The police had recovered Rs 45 lakh of the looted money from them. Kashinath was the mastermind of this loot.
News18
2 days ago
- News18
Delhi Police arrests businessmans cook from Odisha for stealing money
Balasore, Jul 28 (PTI) Delhi Police arrested a man from Odisha's Balasore district who, along with his two associates, had stolen over Rs 1 crore from the house of a businessman in the national capital, an officer said on Monday. Delhi Police, with the help of Odisha Police, arrested Kashinath Mallick (30) from Bhimei Gaon under Iswarpur police outpost in Nilagiri area of Balasore district on Sunday and recovered Rs 20 lakh, the officer said. Mallick used to work as a cook in the house of the businessman. His two other associates used to work as domestic help, and separately, they had stolen Rs 1.10 crore from the businessman's house and had fled Delhi recently. While Mallick was arrested from his house in Balasore district, the other two, identified as Ashutosh Mallick (27) and Jagabandhu Mallick (30), were arrested from Delhi railway station and Patna Bus stand, respectively. The police had recovered Rs 45 lakh of the looted money from them. Kashinath was the mastermind of this loot. PTI COR AAM AAM RG Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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.
Time of India
14-07-2025
- Time of India
Man gets life term for 2019 murder
1 2 Kendrapada: The district and sessions court of Jajpur on Monday sentenced Debaprasad Mallick (32) from Brunadabanpur village to life imprisonment for murdering Prakash Chandra Das (40), a fellow villager. District and sessions judge Amrut Ranjan Nanda found Mallick guilty and has also fined him Rs 10,000. Failure to pay the fine will result in an additional six month's imprisonment. The murder, which occurred in 2019, was a fallout of long-standing enmity between the two. Mallick fatally attacked Das with an axe, killing him. Local police arrested Mallick a week after the incident, charging him with murder. TNN
