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In order to protect local refiners and oilseed growers, edible oil industry body, the Solvent Extractors Association of India (SEA) has said that the government should cap import of refined palm oil and palmolein at a maximum of 50,000 tonnes per month. The SEA also asked the government to restrict issue of licence for import of palm oil and refined palm oil.
Earlier, the government had imposed restrictions on imports of refined palm oil and palmolein in the backdrop of remarks by Malaysia, a major supplier, on the new citizenship law and Kashmir issue. SEA President Atul Chaturvedi said ‘We understand from media reports that the government may issue licenses for allowing import of refined palm oils to the state agencies for distribution under the PDS and also to private organisations’.
SEA President added that ‘We fear this has potential of opening the floodgates of refined palm oil and palmolein into India if a proper check is not put on the same’. He said the government's objective of putting import of refined palm oil and palmolein in ‘restricted’ category would be defeated, which has the potential of destroying local refiners and oilseeds growers.
In order to avoid this scenario, he said the government should cap import of these commodities at a maximum of 50,000 tonnes per month and issue licenses proportionately in different zones to check dumping in one area. India buys nearly 15 million tonnes annually. Of this, palm oil comprises 9 million tonnes and the rest 6 million tonnes is soybean and sunflower oil.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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