Business
Vegetable oils import down by bit in June 2022 over last year
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More than a month after Indonesia lifted the ban on exports, India’s June import of vegetable oils was reported at 991,650 tonnes in June this year compared to 9,96,014 tonnes in June 2021, down by 0.44 per cent, data showed on Wednesday.
According to the Solvent Extractors’ Association of India (SEAI), the 991,650 tonnes imports this year comprised 941,471 tonnes of edible oils and 50,179 tonnes of non-edible oils.
Indonesian palm oil exports had plummeted to a 10 years low due to restrictions imposed on April 28 by the government, resulting in very high stock and full tanks at factories there. Market reports suggest stock is over 8.5 million tonnes, SEAI Executive Director B.V. Mehta said.
Indonesia was compelled to lift the ban on May 23 to reduce its overburden stock. It also reduced the export tax & levy to $488 from $575, which is expected to further reduce to stimulate more exports.
“This has increased export from Indonesia which has had a dampening effect on price in the world market. This can be seen in the continuous downfall in the last few weeks in palm oil prices in the international market,” he said.
The overall import of vegetable oils during first eight months of oil year 2021-22, i.e. from November 2021 till June 2022 has been reported at 87,60,640 tonnes compared to 86,74,012 tonnes during the same period of last year, up by 1 per cent, data compiled by the SEAI said.
The total stock as on July 1 has increased by 7,000 tonnes to 22.56 lakh tonnes from 22.49 lakh tonnes as on June 1.
The import of RBD Palmolein jumped from 29,376 tonnes to 11,00,941 tonnes mainly due to high export levy on CPO ($575) and lower duty on RBD Palmolein ($408).
Indonesia and Malaysia are the major suppliers of palm oil to India. Between November 2021 and June 2022, Malaysia supplied 19,99,407 tonnes of CPO and 3,44,611 tonnes of RBD Palmolein. Indonesia supplied 6,43,199 tonnes of CPO and of 7,47,330 tonnes of RBD Palmolein.
In the case of crude soybean degummed oil, India mainly imported from Argentina (17,24,557 tonnes) and Brazil (7,20,313 tonnes), apart from about 1,59,815 tons from the US.
Business
Mumbai: MahaRERA To Launch New ‘MahaCRITI’ Website On September 1, Existing Portal Offline For Migration On August 30-31
![Mumbai: MahaRERA To Launch New 'MahaCRITI' Website On September 1, Existing Portal Offline For Migration On August 30-31](https://mumbaipress.com/wp-content/uploads/2024/08/Untitled-1-64.jpg)
The Maharashtra Real Estate Regulatory Authority’s (MahaRERA’s) new website ‘MahaCRITI’ will be launched on September 1 at 00.00 hours. To enable the migration to the new portal, the existing MahaRERA’s website will go offline on August 30 and 31.
During this transition period, the back-end team will perform various technical tasks to provide better user experience.
MahaRERA will also conduct classroom and virtual training for all real estate stakeholders to facilitate familiarity, easy navigation and user friendliness of MahaCRITI.
The training, that commenced on Thursday, will continue on August 30 and September 1 at MahaRERA’s head office situated in Bandra-Kurla Complex. The housing regulator has announced training schedule on the website. Videos on the training demo shall also be made available on MahaRERA’s portal.
The stakeholders are encouraged to participate in these sessions for a hands-on experience with the new system.
The training’s second phase will be available for two weeks after the website goes live on September 1. The training module will also guide the complainants as well as lawyers on complaint registration and its further process.
Developers, promoters and their self-regulatory bodies will be guided on how to use the website effectively for routine tasks such as registration of new housing projects, corrections, extensions as per requirement, quarterly progress reports, annual progress reports and project completion Form 4.
Business
2025 Yamaha YZF-R15 Launches Globally with Exciting New Features and Color Choices
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Yamaha has launched an updated version of its YZF-R15 in Indonesia, enhancing its entry-level sports bike with new features and a fresh look. The updated model now offers smartphone connectivity, similar to the version available in India. It also introduces a striking-black color option, along with grey/silver/, grey/black, and blue. Despite these upgrades in features and appearance, the bike maintains its original mechanical design, ensuring reliability while appealing to new and existing riders.
The 2025 Yamaha YZF-R15 for the Indonesian market maintains its familiar 155cc single-cylinder engine with VVT, producing 18.1 bhp and 14.2 Nm of torque, and is paired with six-speed transmission. It features a monoshock rear suspension and inverted telescopic front forks, along with dual-channel ABS and disc brakes on both wheels. While it lacks the traction control found on the Indian model, it retains its Deltabox frame, an 11-liter fuel tank, and a total weight of 141 kg, all supported by 17-inch alloy wheels.
The 2025 Yamaha YZF-R15 comes equipped with a range of advanced features, including dual-channel ABS, traction control, a slipper clutch, and a quick shifter. It also features a fully digital instrument cluster that provides not only essential ride information but also ride tracking, onboard diagnostics, and periodic maintenance reminders, enhancing the overall riding experience.
India Yamaha Motor has marked a notable milestone in its manufacturing history with the success of the Yamaha Ray ZR 125 Fi-Hybrid in Europe. This scooter, produced in India, has gained considerable traction across several European nations. From January to July this year, approximately 13,400 units of the Ray ZR 125 Fi Hybrid were sold across 27 European countries.
Consumers have responded positively to the Yamaha Ray ZR 125 Fi Hybrid, appreciating its well-rounded design and features. The scooter has received a positive response across major European markets such as the UK, Spain, France, Italy, Germany, Turkey, Switzerland, Greece, and Portugal.
Business
Markets Continue To Trade In Red; Sensex & Nifty Decline Further
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The Indian markets opened flat on Monday, with Sensex at 79,571.37, down by 77.55 points or 0.10 per cent, and Nifty at 24,320.50, also down by 26.50 points or 0.11 per cent.
Nifty Bank in the morning session was trading low at 50,483.90, down by 94.05 points or 0.19 per cent.
From the Sensex pack, ICICI Bank, NTPC and Kotak Bank were among the major gainers in the morning session, whereas HDFC Bank, Asian Paints and Titans were among the laggards.
From the Nifty tranche, Apollo Hospital, ICICI Bank and Axis Bank were among the gainers, while Shriram Finance, BPCL and Tata Motors were among the losers.
The Indian rupee opened at 83.96 against the dollar.
Markets on Monday
The stock markets ended Friday on a lower note for both the BSE Sensex and the NSE Nifty.
On Monday, August 12, the BSE Sensex decreased by 25.46 points or 0.03 per cent, ending the day at 79,680.45. Similarly, the NSE Nifty dropped by 20.50 points or 0.08 per cent to close at 24,347.00.
Gainers and Losers
Gainers: On the BSE tranche, at the time of writing, major gainers included Axis Bank, JSW Steel and Infosys with gains of over 1 per cent. Voltas made mammoth gains of 10.40 per cent.
Losers: Amongst the losers, NTPC, Power Grid and Adani Ports made gains of over 1 per cent.
Energy and International Markets
U.S. West Texas Intermediate crude (WTI) decreased by 0.90 per cent to USD 79.34 a barrel at 09:08 IST. Brent crude prices also decreased by 0.92 per cent to USD 81.54 a barrel at 09:08 IST.
On Monday, both the S&P 500 and Nasdaq saw a collective jump in their numbers, meanwhile, Dow Jones Industrial Average also saw a drop its value.
The S&P 500 closed at 5,344.39, gaining 0.0043 per cent. The Dow Jones Industrial Average ended at 39,357.01, gaining 0.36 per cent.
Additionally, the Nasdaq Composite saw a rise of 0.21 per cent to reach 16,780.61.
The Asian indices started in Green, while Japan’s Nikkei 225 index gained 2.17 per cent to reach 35,785.55, at the opening of the day’s trade. Hong Kong’s Hang Seng index rose by 0.23 per cent to reach 17,150.75 points. South Korea’s KOSPI observed a drop in its numbers, as it decreased by 0.048 per cent to reach 2,617.05.
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