Cooking oil on the boil, price jumps 8% in last two weeks despite duty relief

Despite duty reduction by the central government on import of palm oil, prices of most of the cooking oils have increased by about 8 per cent in the last two weeks. The price of crude palm oil in Mumbai has increased 4.61 per cent in a week, 9.66 per cent in a month and by close to 72 per cent from a year ago. The retail prices of cooking oils have nearly doubled in the domestic market. The prices were increasing primarily on global cues, said Sandip Bajoria, chief executive of brokerage and consultancy firm Sunvin Group. Sudhakar Desai, president of the Indian Vegetable Oil Processing Association, cited delayed monsoons, a depleted pipeline during the second wave of Covid and higher demand after clarity emerged on Indonesian and Indian duty among factors that are affecting the prices.

References
1. https://economictimes.indiatimes.com/industry/cons-products/food/cooking-oil-on-the-boil-price-jumps-8-in-last-two-weeks-despite-duty-relief/articleshow/84576824.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.5 -1.4
Consumer Sentiments Index
Base September-December 2015
57.8 +0.3
Consumer Expectations Index
Base September-December 2015
60.1 +0.5
Current Economic Conditions Index
Base September-December 2015
54.3 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Sep 20 Dec 20 Mar 21 Jun 21
New projects 2.53 1.42 2.11 2.72
Completed projects 0.77 0.86 1.15 0.70
Stalled projects 0.08 0.31 0.26 0.32
Revived projects 0.27 0.15 0.22 0.12
Implementation stalled projects 0.09 0.20 0.32 0.25
Updated on: 19 Sep 2021 9:28AM
Quarterly Financials of Listed Companies
(% change) Sep 20 Dec 20 Mar 21 Jun 21
All listed Companies
 Income -6.3 1.6 14.9 42.2
 Expenses -10.3 0.1 7.2 42.2
 Net profit 47.9 58.1 325.4 128.6
 PAT margin (%) 8.4 8.4 8.9 9.1
 Count of Cos. 4,429 4,449 4,351 4,316
Non-financial Companies
 Income -10.5 0.2 17.5 61.1
 Expenses -14.2 -0.8 10.3 62.9
 Net profit 31.8 54.6 233.6 184.7
 PAT margin (%) 8.1 8.8 9.1 8.6
 Net fixed assets 5.9 2.3
 Current assets 0.8 4.6
 Current liabilities -1.8 0.7
 Borrowings 8.5 -4.2
 Reserves & surplus 3.7 12.0
 Count of Cos. 3,282 3,303 3,248 3,233
Numbers are net of P&E
Updated on: 19 Sep 2021 9:28AM
Annual Financials of All Companies
(% change) FY19 FY20 FY21
All Companies
 Income 13.3 0.2 -0.4
 Expenses 13.6 0.1 -2.9
 Net profit 15.2 -10.4 48.3
 PAT margin (%) 2.1 2.1 7.6
 Assets 9.8 8.5 13.9
 Net worth 8.5 4.4 16.0
 RONW (%) 3.8 3.5 9.5
 Count of Cos. 31,664 30,513 3,698
Non-financial Companies
 Income 14.0 -1.7 -3.0
 Expenses 14.2 -1.4 -4.8
 Net profit 21.4 -21.2 30.9
 PAT margin (%) 2.9 2.3 7.3
 Net fixed assets 5.6 10.0 3.4
 Net worth 7.9 2.1 14.4
 RONW (%) 6.4 4.9 11.0
 Debt / Equity (times) 1.0 1.1 0.5
 Interest cover (times) 2.3 1.9 4.6
 Net working capital cycle (days) 74 81 59
 Count of Cos. 25,365 24,409 2,691
Numbers are net of P&E
Updated on: 12 Sep 2021 7:10PM