India is a major market for the world’s second-largest producer Malaysia and the world’s biggest palm oil buyer. All Indian edible oil companies including Adani, Patanjali, and Emami have been facing a lot of difficulties due to the reserves of imported oil, and the stock of imported oil and were not able to utilize, and also struggling with underutilization of their capacities.
Recently, Patanjali Ayurved Limited, an Indian consumer goods company has bought bankrupt edible oil company Ruchi Soya.
The ban on the import of refined palm oil from Malaysia seems like a blessing in disguise for domestic edible oil companies and manufacturers like Cargill, Gokul Agro-Resources, Adani Wilmar, Emami Agrotech, and Patanjali Ayurved. The imported refined palm oil from Malaysia’s cost is much cheaper than those refined in India.
Adani group has a wide range of edible oil spanning in all categories such as mustard, rice bran, soy, sunflower, groundnut, and cottonseed. Adani sells edible oils under the brand name Wilmer Fortune. The domestic edible oil manufacturer can produce 16,800 tonnes of refined oil a day.
Cargill sells cooking oils, including Groundnut, sunflower, soybean, and Vanaspati under the brand name Gemini brand in India. Ahmedabad-based Gokul Industry also has all kinds of edible oil, besides Palmolein and Vanaspati. Patanjali Ayurved Limited of yoga guru Baba Ramdev recently bought bankrupt edible oil company Ruchi Soya, for Rs 4,350 crore through an insolvency process.