Business
Vegetable oils import down by bit in June 2022 over last year
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
Employees’ body to meet on April 13 as Central govt staff keen on 8th Pay Commission decisions

New Delhi, April 7: Millions of Central government employees and pensioners await the outcome of the drafting committee of the National Council (Joint Consultative Machinery) on April 13 to get cues on the 8th Pay Commission salary revision, a report said on Tuesday.
The drafting committee meeting scheduled for 11:00 am at the JP Choubey Memorial Library (AIRF office premises) here will review a final common memorandum and discuss pay scale revisions, annual increments, allowances and other benefits, the report from NDTV Profit said.
“The April 13 meeting is in continuation of the March 12, 2026, meeting when all drafting committee members of the 8th Pay Commission met to discuss the common memorandum of all employee and pensioner bodies,” said NC-JCM secretary, Shiv Gopal Mishra, in a letter to members of the drafting committee.
The government has not yet announced the official date for the salary increase. Arrears will be calculated based on the date fixed for the implementation of the 8th Pay Commission
even as employee and pensioner groups press for arrears to be calculated from January 1, 2026, the report said.
The Federation of National Postal Organisations has asked the government to merge the 58 per cent dearness allowance with basic pay and give interim relief from the same date.
The salary increase will hinge on the fitment factor the government adopts which analysts expect to exceed 2.5. Some employee groups have sought a fitment factor of 3.15, even though the official decision may take over a year, the report said.
Pankaj Chaudhary, MoS Finance, told Parliament in March that the 8th Pay Commission will make its recommendations on pay, allowances, pensions, and other benefits for central government employees. The 8th Pay Commission is expected to complete this work within 18 months from November 2025.
Business
Thane-Borivali Twin Tunnel Work Launched; Here’s How TBM Nayak Will Transform Travel For Mumbaikars

Mumbai: The first Tunnel Boring Machine (TBM), named Nayak, has been launched to begin excavation for the Thane–Borivali Twin Tunnel project today. The inauguration was officially done by Chief Minister Devendra Fadnavis along with Deputy Chief Ministers Eknath Shinde and Sunetra Pawar. Transport Minister Pratap Sarnaik was also present at the event, which took place at the TBM launch site in Manpada, Thane.
At present, the 23-kilometre journey between Thane and Borivali takes anywhere between 60 and 90 minutes, largely due to heavy congestion on Ghodbunder Road. Once completed, the new tunnel route will bring this travel time down to just 15 minutes, offering a faster and more reliable commute. The project, which began on May 19, 2023, is expected to be completed by May 2028.
Implemented by MMRDA, the project also includes connecting roads linking the Western Express Highway in Borivali and Ghodbunder Road in Thane.
A machine built for Mumbai’s toughest terrain, a 13.34-metre diameter single-shield TBM—among the largest deployed in urban tunnelling. Weighing nearly 2,500 tonnes and assembled from over a thousand components, the machine represents cutting-edge engineering tailored for challenging geological conditions.
Meanwhile, prior to this, Phase 1 of the long-awaited Metro Line 9 rail service between Dahisar East and Mira Bhayandar was inaugurated. CM Devendra Fadnavis, along with Deputy CM Eknath Shinde, Transport Minister Pratap Sarnaik, and Mumbai Mayor Ritu Tawde, were present at the inauguration ceremony of phase 1 connecting Dahisar East to Kashigaon.
The 4.97 km line connecting Dahisar and Kashigaon, with stations at Pandurang Wadi and Miragaon, is expected to provide relief to commuters in the Mira-Bhayander region, which currently depends heavily on road transport, leading to frequent traffic congestion.
Business
Govt doubles daily 5-kg LPG cylinder quota for migrant labourers across states

New Delhi, April 7: The Centre has decided to double the daily allocation of 5-kg free trade LPG (FTL) cylinders available for distribution to migrant labourers across states, according to an official communication.
The Petroleum Ministry said in a notification the enhanced allocation will be based on the average daily supply of cylinders provided to migrant workers.
The revised allocation goes beyond the earlier cap of 20 per cent specified in March announcement.
The government also said that the additional 5-kg FTL cylinders will be placed at the disposal of state governments and their Food and Civil Supplies Departments for distribution exclusively to migrant labourers with the assistance of oil marketing companies (OMCs).
Earlier, the government had said it was making all efforts to ensure adequate availability of petrol, diesel and LPG amid the prevailing geopolitical situation, while advising citizens to avoid panic buying and rely only on official sources for information.
Consumers were also encouraged to use digital modes for LPG bookings and minimise visits to distributors unless necessary.
The government has prioritised domestic LPG and PNG supplies, along with critical sectors such as hospitals and educational institutions.
It has also implemented several demand and supply-side measures, including enhancing refinery output and increasing LPG booking intervals to 25 days in urban areas and up to 45 days in rural areas.
To ease pressure on LPG demand, alternate fuels such as kerosene and coal have been made available, while states have been advised to expand PNG connections.
The government also said there has been no disruption in LPG supply affecting migrant workers.
According to official data, around 51 lakh domestic LPG cylinders were delivered recently, with online bookings rising to 95 per cent and delivery authentication-based distribution increasing significantly to curb diversion.
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