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Originally from the Mediterranean region, olive oil, as the name suggests, is the oil extracted from ripe green olives.

Types of olive oils and the benefits of extra virgin olive oil

Originating in the Mediterranean region, olive oil is a&nbsp;healthier alternative to regular cooking oil. There are many variants of olive oil, of which, extra virgin olive oil is the best pick.

Here is why extra virgin olive oil is the best option for your heart

Extra virgin olive oil is the best variant of olive oil, as it is the least processed variant and&nbsp;retains its natural antioxidants and vitamins.

Originally from the Mediterranean region, olive oil, as the name suggests, is the oil extracted from ripe green olives. These juicy little flavour bombs are crushed and mixed together, and the oil is then separated from the pulp in a centrifuge.
There are different types of modifiers attached&nbsp;to&nbsp;olive oil such as, virgin, extra virgin, pure and light. These refer to the method by which manufacturers produce the oil, and since every process is different, these variants also differ in taste, texture and colour.
Which one should you pick?
While olive oil is considered a healthier alternative to regular cooking oil, some of the variants include chemicals and preservatives to prolong the shelf life. This strips away a lot of the oil&rsquo;s flavour along with some of its benefits.
Of them, extra virgin olive oil is considered the best option as it is the least processed version. It retains its natural antioxidants and vitamins, which are often lost during processing. Extra virgin olive oil also contains anti-inflammatory substances like oleic acid and oleocanthal. These are compounds that lend similar effects like the ones&nbsp;present in painkillers or fever reducers.
Extra virgin olive oil is also beneficial for heart diseases. A study published in the New England Journal of Medicine says that regular consumption of extra virgin olive oil can help reduce the risk of heart attacks and strokes by 30%. This is because the oil has 70% monounsaturated fatty acid which helps to lower blood cholesterol levels, thereby reducing heart problems.
The benefits of consuming olive oil are aplenty. But if you really want to take it up a notch, pick the extra virgin variant to take advantage of all that healthy goodness!

Households may see some reprieve as the centre govt has asked the edible oil manufacturing to cut the maximum retail price (MRP) of imported cooking oils by up to Rs 10 per litre. 
The government told the companies to implement the change in prices within a week. 
This move came after the prices of edible oils had reduced significantly in the international market in the last few days.
India annually imports 8-8.5 million tonnes palm oil. Almost 45-50% of palm oil comes from Indonesia and the rest from neighbouring Malaysia.

Relief from burning high prices, edible oil prices to get cheaper 

The central government told the companies to implement the change in prices within a week

Households may see some reprieve as the central govt has asked edible oil manufacturers to cut the maximum retail price (MRP) of imported cooking oils by upto Rs 10-15 per litre.&nbsp;
The government has told the companies to implement the change in prices within a week.&nbsp;
Also read/watch| <a title="After wheat, India puts restrictions on export wheat products" href="https://www.editorji.com/business-news/after-wheat-india-puts-restrictions-on-export-wheat-products-1657190218196">After wheat, India puts restrictions on export wheat products</a>
This move came after the prices of edible oils reduced significantly in the international market in the last few days.
India annually imports 8-8.5 million tonnes palm oil. Almost 45-50% of palm oil comes from Indonesia and the rest from neighbouring Malaysia.

Households may see some reprieve as cooking oil prices are set to ease with Indonesia lifting it's export ban. Indonesia, the world’s biggest shipper of edible oils, had imposed a ban on exports of palm oil on April 28. Palm oil is used in everything from food to soap to fuel. The Indonesian govt lifted the the ban after hundreds of farmers rallied to protest the move, saying their incomes have suffered because prices of their fresh fruit bunches plunged.Domestic edible oil prices have increased by more than 50% in the last one year, taking cue from global elevated prices due to shortfall in production. 

Relief to burning high prices, edible prices may come down

The Indonesian govt lifted the the ban after hundreds of farmers rallied to protest the move, saying their incomes have suffered because prices of their fresh fruit bunches plunged.

India imports about 55% of its annual edible oil consumption

Households may see some reprieve as cooking oil prices are set to ease with Indonesia lifting it's export ban.&nbsp;Indonesia, the world&rsquo;s biggest shipper of edible oils, had imposed a ban on exports of palm oil on April 28.&nbsp;Palm oil is used in everything from food to soap to fuel.&nbsp;
The Indonesian govt lifted the the ban after hundreds of farmers rallied to protest the move, saying their incomes have suffered because prices of their fresh fruit bunches plunged.
Also read/watch| <a title="Canada bans Chinese telecom giant Huawei, ZTE from 5G network" href="https://www.editorji.com/business-news/canada-bans-chinese-telecom-giant-huawei-zte-from-5g-network-1653012922195">Canada bans Chinese telecom giant Huawei, ZTE from 5G network</a>
Domestic edible oil prices have increased by more than 50% in the last one year, taking cue from global elevated prices due to shortfall in production.&nbsp;
India annually imports 8-8.5 million tonnes palm oil. Almost 45-50% of palm oil comes from Indonesia and the rest from neighbouring Malaysia.

As edible oil prices are double-hit by Ukraine, earlier, and now Indonesia, Editorji lists down 5 edible oil stocks that will remain in focus:
1. Adani Wilmar: Shares were up 4 percent at the time of writing this. Adani Wilmar is the largest edible oil stock on the Indian exchanges as per the market capitalisation. Adani Wilmar is the parent company of the popular edible oil brand Fortune under which it offers soyabean oil, palm oil, sunflower oil, etc.
2. Ruchi Soya: Baba Ramdev-owned Ruchi Soya is the largest manufacturer of edible oil in India. Ruchi Soya Industries Limited is engaged primarily in the business of processing oilseeds and refining crude oil for edible use.  Its brands include Nutrela, Mahakosh, Sunrich, Ruchi Gold and Ruchi No.1.
3. Gujarat Ambuja Exports Ltd: Shares were trading higher as the company is engaged in the manufacturing of corn starch derivatives, soya derivatives, feed ingredients, cotton yarn, and edible oils.
4. Agro Tech Foods Ltd: Agro Tech Foods Ltd is primarily engaged in the business of manufacturing and trading of edible oils and food products.
5. Gokul Agro Resources Ltd: Stocks were locked in an upper circuit. Gokul Agro is one of India's prime processors and manufacturers of various edible and non-edible oil and allied products.

Top edible oil stocks to watch out for in India

With edible oil prices set to surge, Editorji lists down the top edible oil company stocks in India.

Edible oil companies

Indonesia has put a ban on exports of palm oil which is going to hit the top exported and consumer in the world, India.

As edible oil prices are double-hit by Ukraine, earlier, and now Indonesia, Editorji&nbsp;lists down 5 edible oil stocks that will remain in focus:
1. Adani&nbsp;Wilmar: Adani&nbsp;Wilmar&nbsp;is the largest edible oil stock on the Indian exchanges as per the market capitalisation. Adani&nbsp;Wilmar&nbsp;is the parent company of the popular edible oil brand Fortune under which it offers soyabean oil, palm oil, sunflower oil, etc. Shares of Adani&nbsp;Wilmar&nbsp;are up over 180 percent in one year.
2. Ruchi&nbsp;Soya: Baba&nbsp;Ramdev-owned&nbsp;Ruchi Soya is the largest manufacturer of edible oil in India.&nbsp;Ruchi Soya Industries Limited is engaged primarily in the business of processing oilseeds and refining crude oil for edible use. Its brands include Nutrela, Mahakosh, Sunrich, Ruchi Gold, and Ruchi No.1.
3.&nbsp;Gujarat Ambuja Exports Ltd: The company&nbsp;is engaged in the manufacturing of corn starch derivatives, soya derivatives, feed ingredients, cotton yarn, and edible oils.
4.&nbsp;Agro Tech Foods Ltd:&nbsp;Agro Tech Foods Ltd is primarily engaged in the business of manufacturing and trading of edible oils and food products.
5.&nbsp;Gokul Agro Resources Ltd:&nbsp;Gokul&nbsp;Agro&nbsp;is one of India's prime processors&nbsp;and manufacturers of various edible and non-edible oil and allied products.

In the latest news that could shock and push prices of edible oil ever higher,  Indonesia, the world's largest producer of palm oil, has announced an export ban amid a continuing cooking oil crisis in the country. Indonesia counts for more than half of global palm oil supply and the edible oil market is already facing severe shortages due to Ukraine conflict with very few replacements available. In a surprise announcement Indonesia's President Joko Widodo made a video broadcast assuring locals that shortages will be arrested. Indonesia as witnessed street protests due to high prices of cooking oil.India, the world's biggest buyer of edible oil, relies on top producer Indonesia for more than half of its palm oil imports. Costs of imported palm oil into India has escalated nearly 40% in just the last 3 months. Palm oil has been soaring as sunflower oil supplies have been limited as Ukraine accounts for 60% of the world's sunflower oil output. 

Edible oil to get more expensive, Top producers bans exports due to shortage

In a surprise announcement Indonesia's President Joko Widodo made a video broadcast assuring locals that shortages will be arrested. Indonesia as witnessed street protests due to high prices of cooking oil.

Indonesia bans export of palm oil
Indonesia's palm oil export crucial
Cooking oil crisis in Indonesia
Edible oil crisis due to Ukraine war
India biggest buyer of edible oil
&nbsp;
&nbsp;

Indonesia is the world&rsquo;s biggest palm oil producer, ban imposed due to severe shortage

In the latest news that could shock and push prices of edible oil ever higher,&nbsp;&nbsp;Indonesia, the world's largest producer of palm oil, has announced an export ban amid a continuing cooking oil crisis in the country. Indonesia counts for more than half of global palm oil supply and the edible oil market is already facing severe shortages&nbsp;due to Ukraine conflict with very few replacements available.&nbsp; In a surprise announcement Indonesia's President Joko Widodo&nbsp;made a video broadcast assuring locals that shortages will be arrested. Indonesia as witnessed street protests due to high prices of cooking oil. India, the world's biggest buyer of edible oil, relies on top producer Indonesia for more than half of its palm oil imports. Costs of imported palm oil into India has escalated nearly 40% in just the last 3 months. Palm oil has been soaring as sunflower oil supplies have been limited as Ukraine accounts for 60% of the world's sunflower oil output.&nbsp;
Also Watch|&nbsp;<a href="https://www.editorji.com/business-news/economy/explained-india-s-coal-shortage-and-power-crisis-8-hour-blackouts-begin-1650533830554" target="_blank">Explained: India's coal shortage and power crisis, 8 hour blackouts begin</a>

350,000 tons of sunflower oil is stuck at ports meant to be enroute to India as Russia's invasion of Ukraine escalates and supply chain disruptions begin.
Edible oil worth $570 million is facing a limbo as the world's largest importer of vegetable oil as deliveries India are on a standstill. Reuters reports India has contracts for about 510,000 tonnes of sunoil from Black Sea region for shipments in February and March, but only 130,000 tonnes have been loaded so far in February. Global prices of vegetable oils, used for everything from preparing cookies to frying potato chips to making shampoo, have more than doubled in two years on supply constraints, with palm and soybean oils surging to all-time highs this week on supply jitters. 

Ukraine crisis latest: India refuses edible oil from Ukraine, 3 lakh tons of oil stuck at ports now

The Black Sea region accounts for 60% of world sunoil output and 76% of exports, and India is the top global edible oil importer.

3 lakh tons of edible oil stuck at ports 

$570 million worth of edible oil stuck at ports as deliveries fail.&nbsp;

350,000 tons of sunflower oil is stuck at ports meant to be&nbsp;enroute to India as Russia's invasion of Ukraine escalates and supply chain disruptions begin.
Edible oil worth $570 million is facing a limbo as the world's largest importer of vegetable oil as deliveries India are on a standstill.&nbsp; Reuters reports India has contracts for about 510,000 tonnes of sunoil from Black Sea region for shipments in February and March, but only 130,000 tonnes have been loaded so far in February.&nbsp; Global prices of vegetable oils, used for everything from preparing cookies to frying potato chips to making shampoo, have more than doubled in two years on supply constraints, with palm and soybean oils surging to all-time highs this week on supply jitters.&nbsp;

Though the Russia- Ukraine war is in another continent of the world, but it is still going to impact Indian household budgets. 
From sunflower oil supplies to gas prices, here are things that may see a spike
1.Edible Oil
The sunflower oil prices in India will be increased as Ukraine and Russia together meet about 90 per cent of India’s sunflower oil needs. Any delay in shipment, leading to shortage can spike up the prices of edible oil, which is an essential oil in the country.
2. Fuel and Gas Hike
Even though Oil Marketing Companies (OMCs) have not hiked fuel prices since November 4 last year when the government brought some respite to consumers by reducing excise on diesel by Rs 10 and on petrol by Rs 5.
With the failure of diplomacy to deter Putin from going ahead, the crude oil market as well as gas prices are set to spiral further and put pressure on major oil importers like India.
3. Gold, precious metals
Precious metals, such as gold, as well as those used in industries, are expected to be hit hard by the Russia-Ukraine conflict.
Palladium, used in automotive exhaust systems and other technologies, such as smartphones, will get costlier as Russia is the top global exporter.
Meanwhile, gold, which is dear to Indians, is already getting costlier after Putin decided to deploy troops in the breakaway regions of Donetsk and Luhansk.

Russia-Ukraine war| here's how it can boil your household budget 

From sunflower oil to petrol prices, here are list of things that may see a spike

Impact of Ukraine-Russia War in Indian households 

Important metals like aluminum, cobalt, and copper will also be hit as &nbsp;Russia accounts for approximately six per cent of global aluminium supply

The<a href="https://www.editorji.com/business-news/russia-ukraine-war-information-warfare-begins-focus-moves-to-youtube-twitter-facebook-1645762909248" target="_blank"> Russia- Ukraine crisis</a> may be away from the borders of India but the attack impact will be felt in your household budget as well.
<h3>EJ Biz details how Putin&nbsp;is playing havoc with your money!&nbsp;</h3>
<h3>Edible Oil</h3>
Cooking oil prices are set to boil, Ukraine is the single-largest import destination of crude sunflower oil for India. Almost 85% of India's sunflower oil import came from the erstwhile member of the Soviet Union.&nbsp;This war comes at a time when inflation in edible oil is a major concern in the domestic markets. The price of refined sunflower oil in the retail market has shot up to Rs 161.94/litre as compared to Rs 145.03/litre, according to the Price Monitoring Cell of the Union Ministry of Consumer Affairs.&nbsp;
Also Watch:&nbsp;<a href="https://www.editorji.com/world-news/ukraine-crisis-russia-claims-day-1-of-attack-successful-dozens-dead-in-strikes-1645760364339" target="_blank">Ukraine crisis: Russia claims Day 1 of attack successful, dozens dead in strikes</a>&nbsp;
<h3>Petrol, Fuel Costs&nbsp;</h3>
Even though petrol prices have not been hiked since November 4 last year crude prices are now up over $20 dollars from that level. In fact&nbsp;every $1 rise in crude prices increases burden by $1.5 billion for the govt.&nbsp;

Price rise is becoming a dizzying worry for consumers and the govt with prices of key ingredients such as edible oil rising over 60% in one year.&nbsp;The govt met with representative of states and stake holders from industry to discuss measures to reduce prices for cooking oil.&nbsp;Food Secretary Sudhanshu Pandey&nbsp;said stakeholders have assured they would help the government to arrive at "wholesome solutions" to ensure edible oils are available at reasonable rates to consumers.The trade body representative has asked that the government should consider removing 5%&nbsp;GST&nbsp;currently levied on mustard seed and mustard oil.

Grocery bills get fried as cooking oil prices soar over 60%

Grocery bills get fried as cooking oil prices soar over 60%, Industry demands removal of GST

Price Rise Worry

<ul>
<li>Price rise on key ingredients worrying governemnt&nbsp;</li>
<li>Edible oil prices up 60% in just one year</li>
<li>Govt holds meeting with stakeholders to reduce cooking oil prices</li>
<li>Food Secretary meets with industry representatives on lowering prices</li>
<li>Industry demands removal of GST&nbsp;levied on mustard seed,oil.&nbsp;</li>
</ul>

Price rise is becoming a dizzying worry for consumers and the govt with prices of key ingredients such as edible oil rising over 60% in one year.&nbsp; The govt met with representative of states and stake holders from industry to discuss measures to reduce prices for cooking oil.&nbsp; Food Secretary Sudhanshu Pandey&nbsp;said stakeholders have assured they would help the government to arrive at "wholesome solutions" to ensure edible oils are available at reasonable rates to consumers. The trade body representative has asked that the government should consider removing 5%&nbsp;GST&nbsp;currently levied on mustard seed and mustard oil.

edible oil

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