FSSAI directs FBOs to ensure corrosion free knives usage for food preparation

by Hansraj Agrawal | Jun 18, 2026 | Business

It pointed out that the regulations prescribe that equipment, utensils and food-contact surfaces used in food handling, preparation, processing, packaging and storage should be made of food-grade, non-toxic, corrosion-resistant materials and shall be maintained in a hygienic condition so as to prevent contamination of food
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The Food Safety and Standards Authority of India (FSSAI) has directed food business operators to ensure only food-grade, corrosion-resistant knives, blades and cutting equipment are used in food handling and processing operations. It has also said that knives, blades and cutting equipment should be maintained in a sound and hygienic condition. It has also asked states food safety commissioners to ensure vigilance in this regard.

“It has been brought to the notice of FSSAI that certain food businesses are using rusted, corroded, chipped, painted, damaged or otherwise unsuitable knives, blades and other cutting equipments during food handling, preparation, processing, cutting, slicing and packaging operations,” it said in an advisory.

“The use of rusted, corroded, chipped, painted, damaged, inadequately cleaned or non-food-grade knives, blades and cutting equipments may result in physical, chemical and microbiological contamination of food and is not in conformity with the sanitary and hygienic requirements,” it added.

It said that non compliance will lead to action again such food business operators. It has also directed state food safety commissioners to maintain strict vigilance during inspections and ensure compliance. “Appropriate action may be initiated in case non-compliance is observed, as per the provisions of the Food Safety and Standards Act, 2006,” the advisory noted

Published on June 18, 2026

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Textile Stocks alert: Gokaldas, Indo Count, Himatsingka, Kitex shares rally up to 6%

by Hansraj Agrawal | Jun 18, 2026 | Share Market

Textile companies share price movement

What’s driving textile stocks?

As per the British High commissioner, the India-UK FTA will come into force from July 15, 2026. The deal has been cleared to come into force after some final trade deals were finalised between both sides. With the FTA coming into force, it provides duty-free access for 99 per cent of Indian exports to the UK.

India’s apparel exports to the UK stands at $1.4 billion while home textile exports to the UK is relatively lower at $0.3 billion. India’s share in UK overall apparel imports ($19.84 billion) stands at 7.1 per cent while its share in UK’s home textile imports ($2.6 billion) stands at 10.5 per cent.

India currently pays 12 per cent tariffs on textile exports to both the UK and EU, which will reduce to ‘NIL’ upon implementation of the FTAs. This will place India on par with Bangladesh and Vietnam, while providing a competitive advantage over other major exporters.
According to analysts at ICICI Securities, India’s low labour costs, abundant cotton availability, and recent removal of customs duty on cotton imports further strengthen its cost competitiveness.

Large, integrated textile players with strong quality standards are expected to be key beneficiaries. As per discussions with textile companies, several UK and EU apparel and home textile buyers have already initiated due diligence of Indian manufacturing facilities ahead of shifting orders post-FTA implementation, the brokerage firm said.
READ | HFCL jumps over 4%, nears 52-week high on winning ₹2,666 cr RVNL contract

Accordingly, benefits from the UK FTA are likely to start accruing from FY27, while the impact of the EU FTA should be visible from FY28. Additionally, a potential trade deal with the US involving lower tariffs could further accelerate order inflows, revenue growth and margin expansion.

Under ICICI Securities coverage, companies such as Gokaldas Exports (Europe exposure: 6 per cent), KPR Mill (Europe exposure: 58 per cent), Indo Count Industries and Pearl Global Industries (UK exposure: 4–5 per cent) stand to benefit over the medium to long term.

The textiles and apparel sector remains one of India’s most important export industries and continues to possess a Revealed Comparative Advantage (RCA) above one, indicating that India remains structurally specialized in textile exports relative to the global average.

The recent trade agreements with the UK, EU, UAE, Australia and New Zealand undoubtedly improve market access for Indian textile exporters and help narrow the tariff advantages historically enjoyed by competitors such as Bangladesh and Vietnam. However, the negative FTA Opportunity Score and the adverse Monte Carlo outcomes suggest that preferential market access alone is unlikely to generate a meaningful improvement in the sector’s export trajectory. While the UK and EU agreements may provide some support through lower tariffs and improved market access, the sector continues to face deeper competitiveness challenges, Yes Securities said in recent report.
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Crude oil futures decline following reports of digitally signed US-Iran interim peace deal

by Hansraj Agrawal | Jun 18, 2026 | Business

Crude oil futures traded lower on Thursday morning following reports that the US and Iran had digitally signed an interim peace deal to end the war.

At 10.03 am on Thursday, August Brent oil futures were at $77.94, down by 2.02 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $75, down by 2.33 per cent. June crude oil futures were trading at ₹7078 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹7212, down by 1.86 per cent, and July futures were trading at ₹7034 against the previous close of ₹7158, down by 1.73 per cent.

According to reports, both the US and Iran digitally signed an interim agreement on Wednesday to end their war in West Asia. The deal would help reopen the Strait of Hormuz and waive US sanctions on oil produced in Iran. These moves would help ease global oil supply situation.

International Energy Agency’s Oil Market Report for June said that an interim agreement between the US and Iran to end the war in West Asia could pave the way for a reopening of the Strait of Hormuz and a lifting of a US blockade on Iranian oil traffic. Prices had already retreated from recent highs as market tensions eased on a surge in Gulf exports at the start of June, an acceleration in IEA government stock releases and weaker demand.

If the deal holds, exports and production from the Gulf should see a gradual recovery – not least because Iranian oil exports can fully resume once the US blockade is lifted, the report said, adding, “Overall, global oil supply is expected to fall by 3.9 million barrels a day on average in 2026 to 102.4 million barrels a day.”

The report said that global oil demand is projected to rise by a relatively modest 2 million barrels a day to 105.3 million barrels a day. By contrast, oil supplies look set to surge by around 8 million barrels a day to 110 million barrels a day. This may provide a welcome respite to the market and an opportunity to replenish depleted inventories, or to build new strategic reserves, as countries review their energy strategies and policies in response to the crisis.

Meanwhile, the weekly petroleum status report by the US EIA (Energy Information Administration) showed a decline in crude oil inventories for the week ending June 12.

According to EIA, US commercial crude oil inventories decreased by 8.3 million barrels from the previous week. At 418.2 million barrels, U.S. crude oil inventories were about 6 per cent below the five-year average for this time of year.

Total motor gasoline inventories decreased by 0.9 million barrels from last week and were 6 per cent below the five-year average for this time of year. Distillate fuel inventories increased by 1 million barrels last week and were about 13 per cent below the five-year average for this time of year.

Total products supplied in the US over the last four-week period averaged 20.6 million barrels per day, up by 3.3 per cent from the same period last year.

Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels per day, down by 1.1 per cent from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels per day over the past four weeks, up by 5.5 per cent from the same period last year. Jet fuel product supplied was down 0.2 per cent compared with the same four-week period last year.

June copper futures were trading at ₹1324.30 on MCX during the initial hour of trading on Thursday against the previous close of ₹1338.15, down by 1.04 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), June guarseed contracts were trading at ₹6082 in the initial hour of trading on Thursday against the previous close of ₹5996, up by 1.43 per cent.

June cottonseed oilcake futures were trading at ₹3710 on NCDEX in the initial hour of trading on Thursday against the previous close of ₹3697, up by 0.35 per cent.

Published on June 18, 2026

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Strait of Hormuz oil flows may recover to only 70% after war: Goldman Sachs

by Hansraj Agrawal | Jun 18, 2026 | Business

Oil flows going through the Strait of Hormuz may recover to only about 70 per cent of their pre-war level, according to Goldman Sachs Group Inc, which highlighted regional producers leaning on alternative routes.

“This normalisation in gulf exports to pre-war levels might be achieved with a 13-million-barrel-a-day increase in Hormuz flows from current levels,” analysts including Yulia Zhestkova Grigsby wrote in a June 17 note entitled “70 per cent of Pre-War Hormuz Flows Might Become the New 100 per cent.”

The expected pickup in shipments may be completed by the end of next month, with gulf production likely to recover by October, they said. Before the war, about 20 million barrels of oil and products used to flow through the strait every day, according to the International Energy Agency.

The global oil market is zeroed in on activity in the critical waterway — which links the Persian Gulf to global markets — after the US and Iran inked an interim deal to end their war and reopen Hormuz. During the conflict, crude shipments through the trade artery collapsed to a trickle as Tehran and Washington imposed a dual blockade, choking off almost all commercial traffic. That initially supercharged crude prices, although they have since retreated.

During the hostilities regional producers including Saudi Arabia, the United Arab Emirates and Iraq have made increased use of infrastructure that avoided the chokepoint, keeping up vital energy flows to global customers. Saudi Aramco boosted usage of a cross-country pipeline that routed crude to its Red Sea coast; the UAE tapped a pipeline to the port of Fujairah, which sits outside Hormuz; and Iraq sent oil to the Turkish port of Ceyhan.

At present, visible flows going through Hormuz were estimated at about 1.3 million barrels a day, with an additional 1.6 million from the Gulf of Oman, which could linked to so-called dark crossings, according to the Goldman analysts. At the same time, a total of 7.5 million barrels a day were going through the Red Sea port of Yanbu, as well as Fujairah and Ceyhan, they said.

The availability of ships is unlikely to be a constraint on the recovery in flows, with around 860 million barrels of empty tanker capacity positioned in the strait or within five days’ of navigation, the analysts said. However, some shipowners may still be averse to sending vessels through the strait, they added.

This month, the UAE said it was working on an ambitious plan to try to end its dependence on the chokepoint entirely, expanding its eastern ports of Dibba, Fujairah and Khor Fakkan — which sit outside the strait on the Gulf of Oman coast — and by building at least one new harbor on the same coastline.

“We’re moving toward having zero Hormuz dependency and that’s regardless of whether it’s open or not,” the UAE’s Minister of Foreign Trade Thani Al Zeyoudi said in an interview. “It’s going to open and we hope that will happen quickly, but we will not stop the new plan.”

Kuwait, meanwhile, has said it was seeking pipeline alternatives to export its crude. State producer Kuwait Petroleum Corp. is in talks with Saudi Arabia and UAE about expanding their pipeline systems to handle Kuwaiti barrels, Chief Executive Officer Sheikh Nawaf Al-Sabah told a conference.

More stories like this are available on bloomberg.com

Published on June 18, 2026

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Man Industries and National Pipe Company secure orders worth Rs 1,000 cr

by Hansraj Agrawal | Jun 18, 2026 | Share Market

Last Updated : Jun 18 2026 | 9:32 AM IST

Man Industries (India)and National Pipe Company (NPC), step-down subsidiary of the Company situated in Saudi Arabia have received new orders of approx. Rs.300 crore and approx. Rs.700 crore respectively. These orders are expected to be delivered within 6 – 9 months. Accordingly, the Company’s consolidated unexecuted order book stands at approx. Rs.4,100 crore.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Jun 18 2026 | 9:31 AM IST

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