Financial Daily from THE HINDU group of publications
Tuesday, Jun 06, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jun 06, 2006 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Vanaspati to cost more Dhimant Bhatt
Mumbai , June 5 Vanaspati prices are likely to go up by Rs 10-12 per 15 kg in central India. Prices have already gone up by about Rs 10-15 per 15 kg in the last two days after the Centre's announcement of canalisation of vanaspati imports through the National Agricultural Co-operative Marketing Federation (Nafed) from Sri Lanka. After this, vanaspati prices have gone up from Rs 635 to Rs 650 per 15 kg pack (local brands) and from Rs 690 to Rs 710 per 15-litre pack as cheap supply through imports will now be regulated through Nafed. "This move will definitely help the domestic local producers. This price may increase further marginally as vanaspati demand will continue till June-end," Mr Ramesh Garg Chairman of K.S. Oils Ltd told Business Line. The Government is seriously considering compulsory use of mustard oil in vanaspati up to 30 per cent from the current10-12 per cent of all edible oils as Nafed has huge stock of mustard, trade sources said. "Consumption will remain steady in the short term. On the other hand, cheap imports would be restricted to nearly 4 lakh tonnes which includes 2.5 lakh tonnes from Sri Lanka and one lakh tonnes from Nepal," Mr Garg said.
More Stories on : Oilseeds & Edible Oil
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