Page 2 - Vegetable Oil

India's vegetable oil imports up 33% to 1.86 mn tonne in Aug: SEA

India's vegetable oil imports rose 33 per cent year-on- year to 18.66 lakh tonne in August due to lower duties and a revival of demand after a fall in domestic rates, according to industry body SEA. India, the world's leading vegetable oil buyer, imported 14.01 lakh tonne of vegetable oil in August 2022. The country's total vegetable oil imports during the first ten months of the 2022-23 oil year (November-October) increased by 24 per cent to 141.21 lakh tonne, when compared to 113.76 lakh tonne in the year-ago period. According to the Solvent Extractors' Association (SEA), edible oils comprised 18.52 lakh tonne, while non-edible oils at 14,008, out of total vegetable oil shipments undertaken in August. In total, palm oil imports reached 11.28 lakh tonne in August. "Looking to import of edible oils in first ten months at 141.21 lakh tons, it will not be surprised to see a record import of over 160 to 165 lakh tons during current oil year ending October 2023," it said in a ...

Palm oil futures edges up on supply concerns amid India festive demand

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange strengthened 7 ringgit, or 0.18% to 3,937 ringgit ($849.22) per metric ton by the midday break

Vegetable oil July imports up 46% to 1.7 mn tn due to palm oil shipments

India's vegetable oil imports increased by 46 per cent to 17.71 lakh tonnes in July this year on rise in palm oil shipments, industry body SEA said on Monday. The country's vegetable oil imports stood at 12.14 lakh tonnes in the year-ago period, it said. Similarly, during the first nine months of the 2022-23 oil year (November-October), the overall import of vegetable oils increased by 23 per cent to 122.54 lakh tonnes from 99.74 lakh tonnes in the same period last year. Vegetable oil imports comprise both edible and non-edible oils. According to the Solvent Extractors Association (SEA), edible oil imports rose 46 per cent to 17.55 lakh tonnes during July this year, when compared to 12.05 lakh tonnes in the year-ago period. Non-edible oil imports too increased to 15,999 tonnes from 9,069 tonnes in the said period. With sharp reduction in domestic prices of edible oils, "demand has returned which is evident from the rising import in spite of better domestic availability reflecting

Vegetable oil imports up 21% to 8.1 MT in 6 months: Industry body SEA

India's vegetable oil imports rose by 21 per cent to 81.10 lakh tonnes in the first six months of the current oil year, driven by increased shipments of refined palm oil which is a cause of concern, industry body SEA said on Friday. Vegetable oil imports stood at 67.07 lakh tonne in the same period of the 2021-22 oil year. India is the world's leading vegetable oil buyer. Oil year runs from November to October. In fact, in April vegetable oil imports remained lower by 10 per cent at 10.50 lakh tonne when compared to the previous month's 11.72 lakh tonne. According to the Solvent Extractors Association of India (SEA), "Increase in import of RBD palmolein in the first six months of the current oil year reported at 11.01 lakh tonne is nearly 22 per cent of the total palm oil import, depriving domestic industry for capacity utilization." The palm oil refining industry in the country is heavily suffering from very low capacity utilization due to excessive import of RBD palmolein, thus

India to allow duty free imports of sunflower, soyoil until June

Earlier this year, the world's biggest importer of vegetable oils scrapped a duty-free imports quota of 2 million tonnes of crude sunflower oil and soyoil for the this fiscal started on April 1

For a veg thali of Rs 100, Indians paid Rs 109 in 2022; Rs 132 for non-veg

The rise was sharper in the case of non-veg thali because chicken prices rose 55% between April and December

Food prices at 9-month low as slow staples demand offset war disruptions

The continued decline offers some relief to households grappling with a cost-of-living crunch. The index is down for seventh month, its longest slump in 9 years, and food inflation has begun to slow

India's palm oil imports rise marginally to 590,000 tonnes in June: SEA

Total import of vegetable oils (both edible and non-edible oils) remained lower at 9.91 lakh tonnes in June this year from 9.96 lakh tonnes in the year-ago period.

India expands biofuel tax benefits for ethanol and vegetable oils

India has expanded the excise duty exemption for biofuels to encourage the blending of higher proportions of ethanol and components of vegetable oil with gasoline and diesel, a government order said.

India's March palm oil imports jump as Ukraine sunoil supplies halt

In March, 539,793 tonnes of palm oil landed in India, up from 454,794 tonnes in February, the Solvent Extractors' Association of India (SEA) said in a statement

Industry body appeals to members not to hoard vegetable oil

In view of volatility in global oil markets due to Ukraine war, Solvent Extractors Association of India appealed to strictly adhere to stock limit prescribed under storage control order

Govt scraps basic customs duty, cuts agri cess on vegetable oils

The move which will help cool prices and increase domestic availability in the festive season

India cuts base import tax on crude vegetable oil imports to zero % -govt

India on Wednesday slashed its base import tax on crude palm oil, crude soyoil and crude sunflower oil to zero from 2.5%

India cuts import taxes on vegetable oils to calm prices

MUMBAI (Reuters) -India has cut base import taxes on palm oil, soyoil and sunflower oil, according to a government notification, as the world's biggest vegetable oil buyer tries to cool near-record price rises.

Explained: Why is India losing sleep over record high vegetable oil prices?

The government is considering reducing taxes on vegetable oil imports after cooking oil prices hit record highs last month

May gold imports surge, vegetable oil buying hits record high: Report

India's gold imports in May surged more than nine-fold from last year's low base to 12 tonnes, while vegetable oil imports in the month spiked 148% to a record $1.4 billion, a government source

World food price index jumps in November to almost six-year high - FAO

Vegetable oil prices led the upward charge in the overall index, surging 14.5% month-on-month.

India's vegetable oil imports dip 13% on sluggish demand in 2019-20: Data

In 2019-20, India's palm oil imports fell 23.3% to 7.22 million tonnes

Vegetable oil import up 26% in July, palm oil shipment highest in 6 yrs

During November 2018 to July 2019 period, the overall import of vegetable oils went up 5 per cent to 112.8 lakh tonne against 107.6 lakh tonne in the corresponding period of the previous year

Vegetable oil import falls 23% in June due to rupee depreciation

The current duty structure coupled with rupee depreciation and credit crunch in the market has slow down the import