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 […]
Indian government discontinues tariff rate quota for sunflower oil import
The Centre has discontinued the TRQ (Tariff Rate Quota) for the import of crude sunflower seed oil for 2023-24 which was to have run up to June 30. With this, the Government has ended the TRQ facility for the import of crude sunflower and soyabean oils at nil customs duty until June 30, 2024. The […]
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 […]