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Edible oil refiners are on track to witness a significant revenue increase of 10% to 12% during the current financial year. This growth trajectory remains robust even as the industry navigates the impact of recent government interventions, specifically the reduction in import duties on crude edible oil. While these tax cuts are expected to moderately temper the realization rates across the sector, the overall financial outlook remains positive.
The anticipated growth is primarily fueled by a combination of high international edible oil prices and consistently strong domestic consumption patterns. Industry experts suggest that the demand for edible oils will continue to climb as affordability improves for the general public. Furthermore, the arrival of the festive season is projected to provide a substantial boost to market volumes. Despite the adjustment in duties, the synergy between global price trends and localized demand ensures a period of healthy revenue expansion for refining companies.
Source: ET Retail