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Edible oil industry sees limited impact from duty cut on soybean oil imports in Indo-US deal

Edible oil industry sees limited impact from duty cut on soybean oil imports in Indo-US deal

by | Feb 9, 2026 | Business


The impact of the duty reduction announced in the US-India bilateral trade agreement will be limited for Indian soybean oil importers, though it may marginally ease soybean oil prices in Argentina, according to the Indian edible oil sector.

BV Mehta, Executive Director of the Solvent Extractors’ Association of India (SEA), said crude soybean oil prices in Argentina may go down marginally and may have some impact on price of palm oil, if soy oil comes at zero or +5 per cent (agri cess) duty. However, he said, it has to be seen whether agri cess would also be reduced or not.

Stating that the US origin oil is generally more expensive for India by $30-40 a tonne (plus additional logistic cost), he said the advantage of duty reduction will be less for Indian importers.

Nepal imports

If duty reduction includes refined soybean oil, then the issue of oil inflow from Nepal may also get solved as it may no longer be viable commercially, he said.

India’s total soybean oil import stood at 54.68 lakh tonnes (lt) during the oil year 2024-25 (November-October). Of this, the share of soybean oil imports from the US stood at 1.88 lt. Argentina is the major exporter of crude soybean oil to India. The share of Argentina stood at 28.92 lt during the oil year 2024-25.

He felt that there could be chances of fixing quota for import of soybean oil at nil duty.

Duty free DDGS imports would add additional supply for cattle feed and poultry feed sector in the country. India currently produces around 7.5-8.0 million tonnes of DDGS, replacing soybean and rapeseed meal and DORB (deoiled rice bran) to some extent. It would be a big challenge for the domestic solvent extraction industry producing oilmeals, and Indian maize-based distilleries, he said.

Integral to market pricing, sourcing

Sudhakar Desai, President of the Indian Vegetable Oil Producers’ Association (IVPA), said the recently concluded FTAs and bilateral arrangements with partners such as the US, EU, Australia, UAE and SAFTA members have become integral to market pricing and sourcing decisions.

“These agreements now directly influence landed cost structures, arbitrage flows and refining economics,” he said, noting that further details on potential tariff concessions or quota mechanisms for US soybean oil will provide additional market clarity. Under the deal, there is a quota of 500,000 tonnes of corn DDGS which helps the poultry and aqua sector. However, its impact on Indian soybean prices is yet to be assessed, he said.

Published on February 9, 2026



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Tata AIA rolls out Value Index Funds with life insurance cover

Tata AIA rolls out Value Index Funds with life insurance cover

by | Feb 9, 2026 | Business


Tata AIA Life Insurance launched two Enhanced Value Index Funds on Monday targeting long-term wealth creation through systematic equity investing. The funds offer during a seven-day window from February 9-16, with policies issued at a net asset value of ₹10 on February 16.

The Enhanced Value Index Fund and Enhanced Value Index Pension Fund track the BSE 500 Enhanced Value 50 Customised Index, investing in 50 companies across large, mid and small-cap segments selected on fundamentals including book-to-price, earnings-to-price and sales-to-price ratios. Both funds combine equity exposure with life insurance protection through unit-linked insurance solutions.

The funds maintain 70-100 per cent allocation to equities and equity-related instruments, with the remainder in cash and money market instruments. Tata AIA benchmarks performance against the BSE 500 Enhanced Value 50 Customised Index.

Chief Investment Officer Harshad Patil said the funds aim to simplify long-term equity investing through a transparent, fundamentals-driven approach that removes stock selection and market timing challenges.

Tata AIA reported assets under management of ₹145,256 crore as of December 31, 2025, reflecting 21 per cent year-on-year growth. The company posted total premium income of ₹31,484 crore for FY25, up 23 per cent from the previous fiscal year.

Published on February 9, 2026



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Gold rate today Feb 9 : Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru

Gold rate today Feb 9 : Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru

by | Feb 9, 2026 | Business


FILE PHOTO: UK gold bullion bars are stacked at Baird & Co in Hatton Garden in London, Britain.
| Photo Credit:
Hiba Kola

Gold prices in India have seen an upward trend today, February 9, with an increase seen across all major cities. The price of both 22-carat and 24-carat gold has risen compared with the previous session. This report provides a detailed, city-by-city breakdown of today’s gold prices.

Gold Rate in India

The average price for 22-carat gold in India today is ₹14,610 per gram, marking an increase of ₹205. For 8 grams, the price is ₹1,16,880, up by ₹1,640. The 24-carat gold price stands at ₹15,341 per gram (up by ₹216) and ₹1,22,728 for 8 grams (up by ₹1,728).

Gold Rate in Mumbai

In Mumbai, the price for 1 gram of 22-carat gold today is ₹14,610 per gram, marking an increase of ₹205. For 8 grams, the price is ₹1,16,880, up by ₹1,640. The 24-carat gold price stands at ₹15,341 per gram (up by ₹216) and ₹1,22,728 for 8 grams (up by ₹1,728).

Gold Rate in Chennai

Chennai’s gold rates have also seen a jump. A gram of 22-carat gold is priced at ₹14,650, a rise of ₹230. An 8-gram piece costs ₹1,17,200, up by ₹1,840. For 24-carat gold, the price is ₹15,383 per gram, an increase of ₹242, and ₹1,23,064 for 8 grams, up by ₹1,936.

Gold Rate in Hyderabad

Hyderabad’s 22-carat gold price is priced at ₹14,650, a rise of ₹230. An 8-gram piece costs ₹1,17,200, up by ₹1,840.

The 24-carat gold rate is ₹15,383 per gram, an increase of ₹242, and ₹1,23,064 for 8 grams, up by ₹1,936.

Gold Rate in Delhi

In Delhi, the price of 22-carat gold is ₹14,815 per gram (up by ₹805) and ₹1,18,520 for 8 grams (up by ₹6,440). The 24-carat gold price is ₹15,556 per gram, a jump of ₹845, while 8 grams costs ₹1,25,448, up by ₹6,760.

Gold Rate in Ahmedabad

Ahmedabad’s gold prices also reflect the national trend. The price for 1 gram of 22-carat gold is ₹14,664, an increase of ₹205, and ₹1,17,312 for 8 grams, up by ₹1,640. For 24-carat gold, the price is ₹15,397 per gram (up by ₹215) and ₹1,23,176 for 8 grams (up by ₹1,720).

Gold Rate in Kolkata

In Kolkata, 1 gram of 22-carat gold is priced at ₹14,710, up by ₹205, and 8 grams at ₹1,17,680, up by ₹1,640. The price for 24-carat gold is ₹15,446 per gram, an increase of ₹216, while 8 grams is priced at ₹1,23,568, up by ₹1,728.

Gold Rate in Bengaluru

Bengaluru also witnessed a rise in gold rates. The price of 22-carat gold is ₹14,670 per gram (up by ₹205) and ₹1,17,360 for 8 grams (up by ₹1,640). The 24-carat gold price is ₹15,404 per gram (up by ₹216) and ₹1,23,232 for 8 grams (up by ₹1,728).

Gold Rates Courtesy: bankbazaar.com

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The probability of a Fed rate cut next month inched down to 69 per cent on Monday, after jumping to 74 per cent in the previous session, according to the CME FedWatch Tool

Published on February 9, 2026



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Indian Oil, HPCL buy 2 mln bbls Venezuelan oil from Trafigura -trade sources

Indian Oil, HPCL buy 2 mln bbls Venezuelan oil from Trafigura -trade sources

by | Feb 9, 2026 | Business


A view of the installations at the Puerto La Cruz oil refinery of Venezuelan state oil company PDVSA in Puerto La Cruz, Venezuela, January 23, 2026.
| Photo Credit:
Samir Aponte

India’s ‍top refiner, Indian
Oil ​Corp and Hindustan ‌Petroleum Corp ​have
together bought 2 million barrels of Venezuelan crude Merey from
trader Trafigura for delivery ​in the second ⁠half of April, trade
sources said.

The purchase ​of Venezuelan ⁠oil is the first by HPCL, with
IOC having ‌previously bought Venezuelan ‌oil in 2024

The pricing of Merey ‍is linked to the Dubai benchmark and
reflects similar rates at which Reliance Industries
bought Venezuelan ⁠oil from trader Vitol, said ​one of the
sources, who ⁠all spoke on condition of anonymity.

Published on February 9, 2026



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Crude oil prices decline as US-Iran talks ease supply concerns

Crude oil prices decline as US-Iran talks ease supply concerns

by | Feb 9, 2026 | Business


February crude oil futures were trading at ₹5712 on MCX during the initial hour of trading on Monday against the previous close of ₹5824, down by 1.92 per cent, and March futures were trading at ₹5714 against the previous close of ₹5829, down by 1.97 per cent.
| Photo Credit:
sankai

Crude oil futures traded lower on Monday morning as diplomatic talks between the US and Iran eased concerns over global supply disruptions.

At 9.58 am on Monday, April Brent oil futures were at $67.36, down by 1.01 per cent, and March crude oil futures on WTI (West Texas Intermediate) were at $62.93, down by 0.98 per cent. February crude oil futures were trading at ₹5712 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹5824, down by 1.92 per cent, and March futures were trading at ₹5714 against the previous close of ₹5829, down by 1.97 per cent.

In their Commodities Feed for Monday, Warren Patterson, Head of Commodities Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said oil prices came under renewed pressure in early Monday morning trading in Asia after nuclear talks between the US and Iran were seen as constructive. A further round of talks is being planned.

Mentioning that there si still plenty of uncertainty over how things will evolve, they said this suggests the market will likely continue to price in a risk premium.

Though the indirect talks were reportedly constructive, the US on Friday imposed additional sanctions targeting Iranian oil exports. US President Donald Trump also signed an executive order on the same day. It will allow tariffs on goods from countries that do business with Iran. He stopped short of applying the tariffs, they said.

“We’re likely to get plenty of noise over the week concerning views on the oil market, with International Energy Week kicking off in London this week. In addition, the EIA will release its Short-Term Energy Outlook on Tuesday. This is followed by OPEC’s monthly oil market report on Wednesday, and the IEA’s monthly oil report on Thursday,” they said.

February natural gas futures were trading at ₹291.80 on MCX during the initial hour of trading on Monday against the previous close of ₹320.20, down by 8.87 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), February castorseed contracts were trading at ₹6422 in the initial hour of trading on Monday against the previous close of ₹6393, up by 0.45 per cent.

April dhaniya futures were trading at ₹11026 on NCDEX in the initial hour of trading on Monday against the previous close of ₹11210, down by 1.64 per cent.

Published on February 9, 2026



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