Page 2 - Palm Oil Imports

Palm oil loses position as world's cheapest edible oil as output shrinks

Key users such as cookie makers, restaurants and hotels in India are unlikely to look for substitutes immediately, even as some household consumption of palm oil may shift to its rivals

Indian refiners cancel palm oil contracts on duty hike, price rise

India, on average, imports 750,000 tons of palm oil every month, and the cancellation of 100,000 tons represents about 13.3 per cent of monthly imports

India palm oil output to triple in 6 years as farmers plant more: Agrovet

India currently imports around 16 million tons of vegetable oils per annum, including 9 to 10 million tons of palm oil, mainly from Indonesia, Malaysia and Thailand

Palm oil imports in Aug fall over a quarter as buyers shift to soyoil

The drop in imports of palm and sunflower oils brought down the country's total edible oil imports by 17 per cent to 1.53 million tons

India's July palm imports surge, near one-year high on festive demand

India's palm oil imports rose more than 37 per cent in July from previous month to about 1.1 million metric tonnes, highest since Aug 2023 and in line with traders' estimates, SEA of India said

India's July edible oil imports to surge to record on robust palm buying

India on average has been importing 1.2 million tons of edible oil so far in the current marketing year which began November 2023.

Malaysia urges India to ease rice, sugar export curbs amid supply concerns

India is a key supplier of rice, sugar, and onions for Malaysia, in turn, Malaysia is the second-largest exporter of palm oil to India after Indonesia

Why Indians might find it difficult to cut down on their palm oil demand?

Price volatility may lead some companies to reduce palm oil consumption and seek alternatives, but its historically lower cost will likely keep it as the top choice for consumers

Palm oil dips on stronger ringgit, prospects of lower India purchases

Lower purchases of palm oil by India could keep inventories elevated in top producers Indonesia and Malaysia and weigh on benchmark futures

January crude imports hit 21-month high due to strong Industrial demand

Crude oil imports in January rose 9.5% month-on-month to 21.39 million metric tons, and were up 5.7% on year-on-year basis, Petroleum Planning and Analysis Cell (PPAC) data showed on Thursday

SEA seeks import curbs on finished products to protect oleochemical sector

Edible oils industry body SEA on Monday demanded import curbs on finished products, including stearic acid and refined glycerine or impose duty with additional tariff on raw materials to safeguard the domestic industry. In a representation made to Food and Commerce Minister Piyush Goyal, Mumbai-based Solvent Extractors Association of India (SEA) said: "Domestic oleochemical industry facing severe threat due to large scale import of finished product viz. stearic acid, refined glycerine, soap noodles and oleic acid at nil duty." SEA has requested the government to take immediate steps to safeguard the interests of the domestic industry by taking some measures. "Imports of finished products like stearic acid, soap noodles, oleic acid and refined glycerine should be placed under restricted items list," it said. Or else, the government should impose import duty on these products with additional duty of 25 per cent on imported raw material like refined palm stearin, it said. That apart,

Why is achieving 'atmanirbharta' in edible oils a difficult ask?

Unless the focus comes back on high-yielding seeds that have a higher oil content than currently available varieties, self-sufficiency in edible oils will continue to be a mirage

Godrej Agrovet interested to set up palm oil processing unit in Telangana

The Telangana government on Tuesday said that Godrej Agrovet Company Ltd has expressed interest in setting up an integrated palm oil processing unit in collaboration with Malaysia-based company Sime Darby in Khammam district. A delegation of Godrej Agrovet Company Ltd led by its Managing Director Iram Singh Yadav met Chief Minister Revanth Reddy at the state secretariat here today and held discussions in this regard, an official release said. Reddy promised to extend all kinds of support to expand the existing palm oil and dairy businesses of the company in the state. The chief minister also advised the company to promote skill development as part of its corporate social responsibility. The chief minister suggested that the delegation also explore the state's huge potential in real estate, furniture and consumer goods, the release added. State IT and Industries Minister D Sridhar Babu, Chief Secretary A Santhi Kumari and other officials were also present during the meeting, the ...

Palm oil rebounds on robust Indian demand and stronger crude prices

India's palm oil imports in December rose to their highest in four months as purchases of refined palmolein surged because of competitive prices

India's Dec palm oil imports hit 4-month high as sun oil doubles-dealers

Higher purchases by the world's biggest importer of vegetable oils could help lower palm oil stocks in top producers Indonesia and Malaysia and support benchmark futures

Govt curtails palm oil imports over rising prices, negative margins

Buyers are concerned that the recent price rise may not be sustainable, so they are placing new import orders cautiously

Palm and sun oil imports rise to record highs on rebound in consumption

Soyoil imports in the year fell 12% to 3.68 million tons as for most of the months it was trading at a premium over palm oil and sunflower oil

Palm oil imports jump 29% to 9.08 mn tonnes in Nov-Sept of 2022-23: SEA

India's palm oil imports jumped 29.21 per cent to 90.80 lakh tonnes in the first eleven months of the ongoing 202223 oil year, compared to the year-ago period, with RBD Palmolien shipments rising fast, posing a serious threat to the domestic refiners, industry body SEA said on Friday. India, the world's leading vegetable oil buyer, imported 70.28 lakh tonnes of palm oil products during the same period in the the previous oil year. Meanwhile, the country's total vegetable oil imports rose 20 per cent to 156.73 lakh tonnes during the NovemberSeptember period of the 202223 oil year, from 130.13 lakh tonnes in the year-ago period. In September, however, the country's vegetable oil imports witnessed a 5 per cent decline, dropping to 15.52 lakh tonnes from 16.32 lakh tonnes in the same period the previous year. "During November 2022 and September 2023, the import of palm products increased sharply due to price parity. The share of palm oil increased to 59 per cent," the Mumbai-based Solv

Palm oil buying lifts India's August edible oil imports to record: Dealers

Palm oil imports increased from 1.09 million tons in July to 1.12 million tons in August, the highest in nine months, according to average estimates from the dealers

Centre reduces import duty on sunflower oil, soyabean oil to 12.5%

The step is consistent with the government's intent to curb the rise in edible oil prices in the country