Palm oil imports could jump to 4-year high on lower prices: Industry official
India’s palm oil imports could jump 16% in 2022-23 to a four-year high of 9.17 million tonnes, as consumption is set to jump after two years of contraction due to Covid-led lockdowns, a senior industry official told Reuters on Tuesday.Higher purchases by the world’s biggest importer of vegetable oilscould lend further support to palm oil […]
Deluge of edible oil imports hits refiners
Import of edible oils witnessed a 31.56 per cent growth in the first quarter of the oil year 2022-23 (November to October) following a surge in the import of soft oils such as sunflower oil and soyabean oil. Data from the Solvent Extractors’ Association (SEA) of India revealed that India imported 47.46 lakh tonnes (lt) […]
Palm oil re-emerging as ‘discount oil’, says USDA
Palm oil is re-emerging as the global discount oil despite Indonesia’s efforts to boost its prices through its bio-diesel policy, the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA) has said in its latest report ‘Oilseeds: World Markets and Trade’ It said the current discount level between palm and soyabean oil will […]
Indonesia to suspend some palm oil export permits to secure domestic supplies
Indonesia will suspend some palm oil export permits to secure domestic supply amid rising cooking oil prices ahead of Islamic festivals, senior cabinet minister Luhut Pandjaitan said on his official Instagram account.He said palm oil exporters had accumulated large shipments quota from last year and they now had little incentives to supply the domestic market.Indonesia […]
Impose uniform import duty on all crude edible oils, SEA tells Govt
The Solvent Extractors’ Association (SEA) of India has urged the Government to impose uniform import duty on all crude edible oils. Ajay Jhunjhunwala, President of SEA, said in a monthly letter to members of the association on Friday that the Association has, in its pre budget memorandum, sent a representation to the Government covering various aspects […]