Rajesh Agrawal had built two large oilseed crushing mills in central India, betting on rising local consumption of edible oils. But now after 30 years of soaring demand and good business, his main mill is shut and covered in grass. Agrawal's shuttered soybean plant highlights the malaise gripping Indian crushers, who have been forced to use a fraction of their capacity as the domestic market stays awash with cheap rival palm oil from top producers Malaysia and Indonesia. Now with Malaysian palm oil prices near 6-1/2 year lows, imports could rise even more, undermining Prime ...
Edible oil producers fight losing battle against cheap palm oil imports
After oil and gold, palm oil is the third biggest imported commodity