Some FMCG companies like Marico and others have already gone for price hike, while some which include Dabur, Parle and Patanjali are closely monitoring the situation

Evidence shows Punjab farmers have brought food security and grown richer in the process while Bihar farmers have grown poorer and Madhya Pradesh farmers are striving to move ahead using MSP

India imported 618,468 tonnes of palm oil in November, down from 672,363 in the same month last year, the Solvent Extractors' Association of India said in a statement

The bank, however, said it expects the winter wave to hit global oil demand by at least 3 million barrels per day, partially offset by heating, restocking and demand in emerging markets

Higher imports by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil prices that hit their highest level in eight years this month, but could weigh on U.S. soyoil futures

The Indian Army on Wednesday successfully test fired a BrahMos missile in the Bay of Bengal. The cruise missile hit the target with a pinpoint precision at a 300 km away island. The BrahMos missile is considered as the best in its class in the world, flying at Mach 2.8. The Indian Air Force now include both land and air-launched versions of the missile. Watch this video to know more.Also Read: India slashes import tax on crude palm oil from 37.5% to 27.5%

India is the world's biggest importer of palm oil. It imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia

Last week, Ruchi Soya reported an increase of 28.09 per cent in revenue for July-September at Rs 3,990.72 crore. Its net profit was up 54.88 per cent to Rs 126.73 crore

India's monthly palm oil imports could dip to 600,000 tonnes in January from around 750,000 tonnes in October if the current narrow price gap remains, said a Mumbai-based dealer with a global trading firm

Rs 29,000 crore strong FMCG arm of the Adani Group, Adani Wilmar, known for the Fortune brand of edible oil is all set to position itself as a complete food company, with a presence in branded staples and ready-to-cook category

The record imports follow a price war between Saudi Arabia and Russia, the world's top oil exporters, during March and April when the coronavirus pandemic dampened demand and caused a global fuel glut

Nepal's crude palm imports had plunged to less than 7,000 tonnes per month by mid June from around 21,000 tonnes earlier in 2020, according to government data

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India spends around $10 billion every year on edible oil imports as the country's reliance on overseas purchases have jumped to 70% from 44% in 2001/02

Cyclone Amphan update: On May 20th, heavy to very heavy rainfall is predicted at isolated places over north coastal Odisha (Balasore, Bhadrak, Mayurbhanj, Jajpur, Kendrapara and Keonjhargarh districts)

India early this year restricted imports of Malaysian palm oil after then Prime Minister Mahathir Mohamad criticised policies by New Delhi affecting the country's Muslim minority

'In the post crises scenario the endeavour should be to create better opportunities for green investments while adhering to the standards of sustainable production and consumption,' Archana Datta, Project Coordinator for RPAC said

Palm oil accounts for nearly two-thirds of India's total imports of edible oil, mainly sourced from Indonesia and Malaysia

Asian markets were ended positive led by Nikkei, ahead of Bank of Japan monetary meet. Federal Reserve and the European Central Bank will meet later in the week, while Bank of Japan has begun the policy meeting today.

Following the update, share price of JK Paper climbed 14.4% to an intraday high of Rs 104.5 as against its previous closing value of Rs 91.35 on BSE.