Crude Palm Oil Prices

Edible oil industry body SEA has demanded that the government should increase the duty difference between crude and refined palm oil to 15 per cent from 7.5 per cent to curb imports of refined cooking oil and protect domestic players. In a letter to its members, Solvent Extractors' Association of India (SEA) President Ajay Jhunjhunwala pointed out that Indian vegetable oil (comprising of edible and non-edible oil) refining industry is "facing challenges". "The Indian edible oil Industry, with a size of Rs 3 lakh crore (USD 35 billion), holds significant importance. Over the last 12 years, Indonesia and Malaysia have imposed higher export taxes on Crude Palm Oil (CPO) compared to refined Oil to protect their refining industry. This has made refined oil cheaper, rendering Indian capacity redundant and unutilized," he said. In India, the duty differential between CPO and refined palm oil has been reduced to 7.5 per cent, "serving the interests of the refining industry in Malaysia and .

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Indonesia's allowance of more exports globally and a reduction of palm oil prices in India have paved the way for a high palm oil import in 10 months

This is due to a forecast of decline in production and expectation of a revival in biodiesel demand in Indonesia, one of the largest producers

In a major relief for the Indian government and consumers, crude palm oil (CPO) prices are likely to decline by nearly 15 per cent before the end of 2017 due to bumper supply from Indonesia and Malaysia, the world's two largest producers of the oil to which India is a big importer.Speaking on the sidelines of the Globoil India 2017, the three-day event here, James Fry, Chairman, LMC International, a London based agri commodities' trading firm, said, "Crude palm oil prices are set to decline to ringgit 2400 a tonne by the current year-end primarily because of huge supply coming in from Malaysia and Indonesia."The benchmark CPO contract for near month delivery in Bursa Malaysia shot up sharply to trade at ringgit 2873 a tonne, a 3.8 per cent jump in September alone. The CPO price shows a sharp 7.8 per cent rise from its level a month ago. The sudden spurt in the CPO price is largely attributed to lower output in Malaysia and Indonesia where production declined due to fewer number of ...

Oil for delivery in August contracts traded higher by Rs 1.50, or 0.26%

Oil for delivery in September contracts shed Rs 5.20 or 0.93%

Traders trimmed their positions, tracking a weak trend at spot market on sluggish demand

Oil for delivery in July contracts went up by Rs 2.30, or 0.46%

Oil for delivery in June traded lower by Rs 2.40 or 0.47%