Business Standard

Tech view: Will Indonesia's palm oil export ban hurt HUL, Adani Wilmar?

Among FMCG stocks, Adani Wilmar seems to be better placed at current levels as per the technical charts.

sunflower oil
Web Exclusive Premium

Palm Oil export ban

Avdhut Bagkar Mumbai
Indonesia, one of the largest exporters of palm oil to India, has proposed a ban on palm oil exports starting April 28. India meets almost 45 per cent of its annual palm oil requirement from Indonesia. READ MORE

While the US soyoil futures jumped more than 3 per cent to a record high of 84.03 cents per pound after Indonesia announced the ban, shares of domestic countries dependent on palm oil fell sharply on the bourses.

According to trade sources, the ban will cause a sharp escalation in edible oil prices which have already been on the boil

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in