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alwaysbewoke · 1 month

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sataniccapitalist · 1 year

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#business and industry sectors #business #economy and trade #consumer prices #consumer products

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currentmediasstuff · 1 month

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Decline in Vegetable Oil Imports Signals Shift in India’s Market: What It Means for Consumers

Introduction:

In a recent statement by the Solvent Extractors’ Association of India (SEA), the import of vegetable oils into India took a significant dip in February. According to industry data, there was a notable 13% decrease compared to the same period last year, amounting to nearly 9.75 lakh tonnes. Let’s dive into the implications of this decline and what it could mean for consumers.

Vegetable Oil Imports Take a Dive:

During February, the import of vegetable oils, which includes both edible and non-edible oils, stood at 9,74,85 tonnes, down from 11,14,481 tonnes in the previous year. This decrease was primarily driven by a decline in edible oil shipments, which fell to 9,67,852 tonnes from 10,98,475 tonnes in February 2023. Non-edible oil imports also experienced a notable decrease, dropping to 7,000 tonnes from 16,006 tonnes in the year-ago period.

Trend Continues Over Four Months:

Looking at a broader timeframe from November 2023 to February 2024, the overall import of vegetable oils saw a substantial 21% decline compared to the corresponding period in the previous oil year. This downward trend in imports persists, with edible oils import falling to 46,15,551 tonnes during the first four months of the current oil year from 58,44,765 tonnes in the previous year. Non-edible oils import also saw a decline, dropping to 32,412 tonnes from 43,135 tonnes during November to February.

Factors Behind the Decline:

One significant factor contributing to this decline is the reduced availability of palm oil, a key component of India’s edible oil market. Malaysia and Indonesia, two major palm oil producers, have shifted focus to biodiesel production, impacting the supply for edible oil needs. As a result, prices are expected to rise this year due to decreased availability.

Outlook for the Future:

The outlook for vegetable oil imports remains uncertain. While there may be a marginal increase in palm oil output in Indonesia and Malaysia, factors such as ageing plantations and limited expansion could hamper significant growth. Additionally, shifts in the import of soyabean oil from Argentina and Brazil reflect changing dynamics within the domestic biofuel industry.

Conclusion:

The decline in vegetable oil imports signals a notable shift in India’s market dynamics. Consumers should brace for potential price increases as the supply of key oils dwindles. Understanding these trends is crucial for navigating the evolving landscape of the edible oil industry in India. Stay tuned for further updates on how these developments may impact consumers in the coming months.

#Vegetable oil imports #Edible oils #Non-edible oils #India's market dynamics #Consumer prices

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head-post · 5 months

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US consumer prices rose in November

Core inflation rose in the US and consumer prices unexpectedly rose in November, providing further evidence that the Federal Reserve is unlikely to move to cut interest rates early next year, Reuters reports.

The Labour Department’s Bureau of Labor Statistics said on Tuesday that the consumer price index rose 0.1 percent last month after being unchanged in October. In the 12 months through November, the consumer price index rose 3.1 percent after rising 3.2 percent in October.

Economists had forecast the consumer price index to be unchanged for the month, rising 3.1 per cent year-on-year. Annual consumer price growth has slowed from a peak of 9.1% in June 2022. Inflation remains above the Fed’s 2% target.

The report followed data released last Friday that showed job growth accelerated in November and the unemployment rate fell to 3.7% from a nearly two-year high of 3.9% in October. The strong jobs report caused financial markets to push back expectations for an interest rate cut to May from March, according to CME Group’s FedWatch tool.

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jadewalker · 1 year

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#business #economy and trade #christmas #consumer prices #economic conditions

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elladastinkardiamou · 6 months

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This week's newsletter from AthensLive is out:

* You’ll be taxed as a tax evader. It doesn’t matter if you are not

* Being “large” with the TV channels

* Something is terribly wrong with the Greek Police

Assuming that all half a million self-employed professionals in Greece are tax evaders, the government decided to tax them accordingly. Only it won’t work. This happened at a time when the Greeks had drastically cut consumption of essential goods due to economic hardship.

There is no money for welfare policies, but there is always money for the TV channels. The government would now pay all their debt to the insurance fund -some 6.8 million- on the basis they were affected by… the war in Ukraine.

A 16-year-old girl was found unconscious with serious head injuries after an anti-fascist concert when clashes with the police erupted. The coroner’s report severely doubted the Greek police’s version of events. Later in the week, neofascists attempted to set people on fire in the Metro. When the police finally intervened, they threw tear gas.

Read and share this week's updates on the events and developments in Greece here: https://steadyhq.com/en/athenslivegr/posts/d8a70182-849d-44ba-a8b2-460eebc45e12

For anyone with a wish or need to follow and to gain an insight into recent events in Greece and to read and support independent and investigative journalism in English, the weekly newsletter from AthensLive should be a core element in the reading flow.

If you want the best overview of the events and developments in Greece right now, this is the place to go. Not the mainstream Greek news, but independent journalism with sharp analysis and links to interesting and important topics from a variety of sources.

Become a member and get the newsletter in your inbox every week here:

https://steadyhq.com/en/athenslivegr/newsletter/sign_up

#Greece #AthensLive #Newsletter #Self-employed #Tax #Tax evasion #Consumer prices #Austerity #TV #Media #Petsas list #Cronyism #Police #Right-wing #OPKE #KEERFA #Neo-nazism #Oppression

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transparentcreatordreamer · 1 year

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RccImB

CLICK HEAR TO HAVE SOME FUN!

#outlander fandom #personnel #business standard #airbnb #consumer prices #stock markets #interest rates #taixiuonlineuytin #trangwebtaixiuonline #study in usa

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head-post · 5 months

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UK inflation slows to a two-year low

British inflation fell more than expected in October as household energy prices fell from a year ago and there was a broader easing of price pressures, bringing relief to the Bank of England and Prime Minister Rishi Sunak, Reuters reports.

Annual consumer price inflation fell to a lower-than-expected 4.6 per cent from 6.7 per cent in September, official data showed. The rise in inflation was the smallest in two years, prompting investors to raise bets on a Bank of England rate cut next year. Finance minister Jeremy Hunt said:

“Now we are beginning to win the battle against inflation we can move to the next part of our economic plan, which is the long-term growth of the British economy.”

It will offer investment incentives to businesses in its updated Budget on 22 November. Bank of England forecasts and consensus from a Reuters poll of economists pointed to an October rate of 4.8 per cent.

The ONS reports that the fall in annual CPI was the biggest since April 1992.