Page 3 - Palm Oil Imports

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

India's palm oil imports hit 27-month low, buyers pick cheaper soft oils

India buys palm oil mainly from Indonesia, Malaysia - the top two producers - and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine

Palm oil import in May to hit 27-mnth low, traders switch to soy, sunflower

The surprising drop in palm oil imports by India, the world's biggest importer of vegetable oils, could bring down palm oil prices

India's April palm oil imports slump 30% to 14-mth low as preference shifts

Sunoil imports in April surged 68% from a month ago to 249,122 00 tonnes, while soyoil imports edged up 1.4% to 262,455 tonnes

India's experiences can help Uganda's development journey: EAM Jaishankar

India's progress and prosperity can create new opportunities that can benefit Uganda, External Affairs Minister S Jaishankar has said, as he met the Indian business community here and encouraged it to bolster bilateral business ties for growth and development. Jaishankar is on a two-nation visit to Uganda and Mozambique from April 10-15 to strengthen India's strong bilateral ties with the two African countries. "India's progress and prosperity create new opportunities that can benefit Uganda. Just as India's experiences can help Uganda's development journey," he tweeted on Tuesday after his meeting with the Indian Business Community. Addressing the community, Jaishankar spoke about the problems that India faced due to the war in Ukraine. He said when the Ukraine conflict started a year ago, the first hit that the world economy took was the price of oil. "Very soon thereafter, there was a big issue with the price of wheat, because the oil prices, of course, were a more complicated

India's edible oil imports up 12% to 1.098 million tonnes in February

India's edible oil imports rose 12 per cent year-on-year in February to 10.98 lakh tonnes on higher imports of crude palm oil, according to industry body SEA. In a statement, the Solvent Extractors' Association of India (SEA) on Wednesday said that edible oil imports rose to 10,98,475 tonnes in February from 9,83,608 tonnes in the year-ago period. Imports of non-edible oil fell to 16,006 tonnes in February from 36,389 tonnes in the same month last year. Total imports of vegetable oils (edible oils and non-edible oils) went up 9 per cent to 11,14,481 tonnes in February this year from 10,19,997 tonnes a year ago. During November 2022 to February 2023 period, imports of edible oils rose to 58,44,765 tonnes from 45,91,220 tonnes in the corresponding period of the previous oil marketing year. Oil marketing year runs from November to October. Imports of non-edible oils fell to 43,135 tonnes in the first four months of 2022-23 oil year from 99,938 tonnes in the year-ago period. Total i

India considers raising palm oil import tax to help rapeseed farmers

The increase in the tax on palm oil could lift local prices, making the tropical oil a little less competitive than rival soyoil and sunflower oil

Govt coping with Indonesia's restrictions on palm oil exports: Officials

Last week, Indonesia said it will suspend some palm oil export permits to secure domestic supply as cooking oil prices rise ahead of upcoming Islamic festival Ramadan

India's Dec palm oil imports fall 2.8% to 1.11 million tonnes: Trade body

Imports of soyoil gained 10.1% to 252,525 tonnes while sunflower oil imports jumped 23% to 194,009 tonnes, a release said

India's palm oil imports in Dec jumps 94% YoY to record high for the month

India's palm oil imports in December jumped 94% from a year earlier to a record high for the month as palm oil's higher discount to rival vegetable oils led refiners to raise purchases

Govt allows import of lentils, vegetable oil at lower duty until March 2024

India imports more than two-thirds of its edible oil needs and has been struggling to contain a rally in local oil prices over the last few months

India extends policy to import refined palm oil at lower duty of 13.75%

The duty cut made refined palm oil imports lucrative for Indian refiners, which traditionally prefer to import crude palm oil

India raises base import price of palm oil, gold as prices surge globally

India is the world's biggest importer of edible oils and silver and the second-biggest consumer of gold

India's palm oil imports jumed 29% to 1.14 million tonnes in Nov: Report

Higher imports by India, the world's biggest palm oil buyer, would help top producer Indonesia cut its inventories and support benchmark Malaysian palm oil prices

India's palm oil imports dip 4.8% in 2021/22, soyoil overseas buying up 45%

The country's palm oil imports in the marketing year ended on Oct. 31 fell to 7.9 million tonnes

Centre examining proposal to raise tax on import of palm oil: Report

The government has also received petitions from the industry to raise the import tax to help prop up falling oilseed prices, says a source

Top headlines: Govt hikes MSP on wheat, mustard; Binny new BCCI President

With the hike, the new MSP of wheat will be Rs 2,125 per quintal as against RS 2,025 per quintal earlier

India palm oil imports jump to 1-year high in September as discounts widen

The September imports jumped 18% from a month ago to 1.17 million tonnes, the highest since last September, the Solvent Extractors' Association of India, a trade body based in Mumbai, said

India's palm oil imports to jump 9% on rising demand, lower prices

Higher palm oil imports would lift India's total edible oil imports to 14.1 million tonnes in 2022/23 from 13.8 million tonnes, the survey showed

Edible oil imports surge 35% in Aug as share of Russia, Argentina rises

RBD palmolein now constitute 12% of total imports of edible oils against 2% last year