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Edible Oil Imports Rise 22 percent To Rs 1.61 Lakh Crore In 2024-25 Marketing Year; Volume Remains Steady: SEA

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Edible Oil Imports Rise 22 percent To Rs 1.61 Lakh Crore In 2024-25 Marketing Year; Volume Remains Steady: SEA


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India imported 16 million tonnes of edible oils worth nearly Rs 1.61 lakh crore during the 2024-25 marketing year ending in October to meet domestic demand. all

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India imported 16 million tonnes of edible oils worth nearly Rs 1.61 lakh crore during the 2024-25 marketing year ending in October to meet domestic demand, according to the industry group SEA. In the 2023-24 marketing year (November-October), India’s edible oil imports were 15.96 million tonnes valued at Rs 1.32 lakh crore, as per data from the Solvent Extractors’ Association of India (SEA) released on Thursday.

The value of edible oil imports increased by 22 percent due to higher global prices. India imports palm oil from Indonesia and Malaysia, while soybean oil comes from Argentina and Brazil. “To meet the gap between supply and demand, India has been importing edible oils since the 1990s. Initially, the import volume was very low. However, in the last 20 years (2004-05 to 2024-25), the import volume has grown by 2.2 times, while the cost has increased nearly 15 times,” the association said.

In 2024-25, India spent nearly Rs 1.61 lakh crore (USD 18.3 billion) to import 160 lakh tonnes (16 million tonnes) of edible oils. In terms of volume, edible oil imports were 16.47 million tonnes in 2022-23, 14.03 million tonnes in 2021-22, and 13.13 million tonnes in 2020-21. During the 2024-25 oil marketing year, SEA data showed that 1,737,228 tonnes of refined oils were imported compared to 1,931,254 tonnes in the previous year.

However, imports of crude edible oils increased to 14,273,520 tonnes from 14,031,317 tonnes in the 2023-24 marketing year. Soybean oil imports set a new record of 5.47 million tonnes in 2024-25, surpassing the previous high of 4.23 million tonnes in 2015-16. Palm oil imports dropped sharply to 7.58 million tonnes from 9 million tonnes, according to the association’s data.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

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The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More

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News india Edible Oil Imports Rise 22 percent To Rs 1.61 Lakh Crore In 2024-25 Marketing Year; Volume Remains Steady: SEA
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No More Mandatory Probate Of Will In Mumbai, Chennai, Kolkata: What Does It Mean For Heirs?

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No More Mandatory Probate Of Will In Mumbai, Chennai, Kolkata: What Does It Mean For Heirs?


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Probate of wills is no longer mandatory in Mumbai, Chennai and Kolkata after Parliament amended Section 213 of the Indian Succession Act, 1925.

ig Relief For Families: Wills No Longer Need Probate In Mumbai, Chennai, Kolkata

ig Relief For Families: Wills No Longer Need Probate In Mumbai, Chennai, Kolkata

The probate of wills is no longer mandatory now in Mumbai, Chennai and Kolkata. The Indian government has brought amendment into Section 213 of the Indian Succession Act, 1925 under the Repealing and Amending Act, 2025.

Probate is a court’s legal confirmation that a will is valid. It allows the executor to distribute the deceased person’s assets.

Parliament passed the Repealing and Amending Act, 2025, which deletes Section 213, ending the requirement of mandatory probate for wills in Mumbai, Chennai, and Kolkata.

The government argued that the rule was a colonial-era provision, discriminatory, and causing unequal treatment between communities and regions.

What does this mean for heirs now?

Heirs of Mumbai, Chennai and Kolkata can claim property without probate like in other parts of the country. Banks, registrars and authorities may accept the will directly.

The process becomes faster, cheaper and less court-driven.

However, probate is still required in case there is a dispute over the will. The matter then can be proceeded with in the court for resolution.

Why was mandatory probate only for Mumbai, Chennai & Kolkata?

The mandatory probate was applicable only for these three cities, which reflects a remnant of the colonial era. The British created special succession rules only for these cities.

During British rule, Mumbai (Bombay), Chennai (Madras) and Kolkata (Calcutta) had Presidency High Courts.

Muslims and Christians were already exempt from mandatory probate even in these cities. This Section only applied over Hindus, Buddhists, Sikhs, Jains and Parsis.

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News business No More Mandatory Probate Of Will In Mumbai, Chennai, Kolkata: What Does It Mean For Heirs?
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KSE-100 Index surges past historic mark – SUCH TV

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KSE-100 Index surges past historic mark – SUCH TV



The Pakistan Stock Exchange (PSX) continued its upward trend on Wednesday, with the benchmark KSE-100 Index crossing over the historic 175,000-point milestone in early trading.

During the trading session, the KSE-100 Index rose by over 700 points, reaching a high of 175,232 points, its highest level ever.

Earlier in the day, the index had climbed 208 points to 174,681.

At the close of trading on Tuesday, the KSE-100 Index had ended at 174,472 points, highlighting the market’s continued bullish momentum as the year comes to a close.

Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs and power generation.

Index-heavy stocks, including HUBCO, MARI, POL, PPL, OGDC, PSO, HBL, MEBL and MCB, traded in the green.



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Asian stocks today: Markets trade mostly in red on last trading day of 2025; HSI sheds over 200 points, Kospi flat – The Times of India

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Asian stocks today: Markets trade mostly in red on last trading day of 2025; HSI sheds over 200 points, Kospi flat – The Times of India


Asian markets slipped mostly into red on Wednesday, the final trading session of 2025, as investors remained cautious ahead of the New Year holiday and took cues from Wall Street losses.In Hong Kong, HSI slipped over 224 points to 25,630. Nikkai was also trading at a loss, shedding 187 points or 0.3%. Shanghai and Shenzhen were also down 0.07% and 0.67% at 10:35 AM IST. South Korea’s Kospi was also down 6 points to trade at 4,214. With the holiday season keeping participation low, trading volumes across the region remained thin. Commodities offered a steadier picture, with precious metals holding their ground after retreating from record levels seen earlier in the week. The uneven performance followed a muted session in the United States, where major Wall Street indices finished slightly lower on Tuesday. Investor unease over stretched valuations in artificial intelligence (AI)-linked stocks continued to weigh on sentiment. Even so, US markets were still set to deliver solid gains for the full year, a trend mirrored across much of Asia. Regional markets benefited from a combination of easing monetary conditions and a powerful rally in technology shares. In China, fresh official data showed factory activity edged up marginally in December, offering a rare positive signal at the close of an otherwise subdued year for the world’s second-largest economy. A key driver of the year’s global market strength has been the US Federal Reserve’s shift towards monetary easing in the latter half of 2025, alongside a flood of investment into AI-related technologies. Minutes from the Fed’s December policy meeting revealed that most officials consider further interest rate cuts appropriate, provided inflation continues to cool as anticipated. Precious metals have been among the most volatile assets in recent days, lifted by their demand as safe-haven investments amid ongoing geopolitical tensions. Gold and silver both touched record highs last week before pulling back.



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