trademark which retailers and manufacturers can apply for early 2011 is

Trademark which retailers and manufacturers can apply

This preview shows page 27 - 28 out of 32 pages.

trademark, which retailers and manufacturers can apply for early 2011, is designed for certified products that either use the RSPO’s segregated system, where only certified sustainable palm oil is present in the product, or the mass balance system, where mixed sources of oil are used but the mass of palm oil in the product corresponds to the production of sustainable palm oil. According to RSPO President Jan Kees Vis, the trademark will reassure consumers of the contribution certain products have made to the sustainable cultivation of palm oil. INDIA’S EMAMI GROUP TO INVEST IN EDIBLE OIL The Emami Group has earmarked Rs 950 crore (Rs9.5 billion) over the next two years in its bid to break into the branded edible oil business and gain substantial market share. The investment will be done through the Group’s wholly-owned subsidiary, Emami Biotech. Emami Biotech was set up in 2006 to manufacture biodiesel from Jatropha. The group currently produces 1,600 MT per day (MTD) of edible oils such as palm, soya, mustard, and sunflower, and plans to expand capacity to 3,000 MT daily over the next two years. On expansion, the company already has a 300 MT MTD palm oil plant in Haldia, West Bengal which it wants to expand up to 1,000 MTD by August 2011. It also plans to add another 600 MTD for soya oil at Haldia and is setting up a new unit of 1,000 MTD palm oil, 200 MTD sunflower oil at Krishnapatnam in Andhra Pradesh and another 1,000 MTD palm oil unit in Gujarat. INDIAN DUTY ON EDIBLE OIL MAY RISE NEXT SEASON Reports from Mumbai, India say the Union Ministry of Agriculture may raise the import duties on both crude and refined edible oil in the coming rabi season. Official sources said a high-powered committee in the ministry reviewed the tariff structure recently, in the wake of the increasing import of edible oil to support growing domestic demand. Currently, crude edible oil is imported at zero import duty, while refined oil import has 7.5 percent import duty. Under the proposed review, the import duty on crude edible oil may be raised from the present zero rate, followed by an automatic increase in import duty on refined oil. No specific tariff rates, however, have been disclosed. The Commission for Agricultural Costs and Prices has already recommended a rise in the duty on import of raw edible oil. The recommendation has been sent by the Ministry of Agriculture to the Ministry of Commerce. SINGAPOREAN VEGETABLE OIL FIRM BARES EXPANSION PLANS The Mewah Group of Singapore has laid down an expansion program which includes quadrupling production of specialty fats and increasing refining capacity. Rajesh Chopra, Chief Financial Officer at the world’s sixth largest refiner by capacity, said it plans to expand its integrated processing capacity at Westport and Pasir Gudang in Malaysia to meet its target output of 280,000 MT of specialty fats-such as cocoa butter equivalent and cocoa butter substitutes by the end of 2011. He added that the company is likely to increase its edible oils refining capacity by around 18% to 3.3 million MT per year by the second half of 2012.
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