What is Crude Palm Oil?

India's edible oil imports declined 16% annually in December to 1.30 mn tonnes due to lower shipments of crude and refined palm oils, according to industry data released on Friday

The SEA also noted that per capita consumption has increased with falling domestic edible oil prices in recent months

Global palm Oil prices seen stabilizing around $1000-$1100 per tonne due to low pdtn

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

India has slashed the base import prices of crude and refined palm oil, while raising the price of crude soyoil, the government said in a statement

If a windfall tax is imposed in India, it will not only be aimed at private companies like Reliance, but also at state-owned behemoths

However, achieving self-sufficiency in edible oil will remain a distant dream unless drastic policy measures are taken

Indian FMCG players have said they are concerned about Indonesia's move to ban exports of palm oil, though some of them expect the decision is likely to have only transitory impacts

This could also be beneficial to the Indian local refining industry as any move to curb import of refined oils boosts domestic oilseeds crushing and refining

The surge in diesel sales is putting pressure on India's logistics and supply infrastructure, according to Reliance

Palm oil's record premium over rival oils could squeeze price-sensitive Asian and African consumers already reeling from spiralling fuel and food costs, and force them to curtail consumption and shift

Higher imports of refined palm oil by India, the world's biggest buyer of vegetable oils, could help producers in Indonesia and Malaysia but hurt refiners in India

Amid edible oil prices continuing to remain high, the Centre on Friday asked states to direct retailers to prominently display the prices of all edible oil brands for the benefit of consumers and also take action against hoarding at the level of wholesalers, millers and refiners.

Massive forest loss and impact on wildlife, long gestation, small farm holdings among hurdles to cultivation

The slash in import duties on crude palm oil has been negated by price rise in global markets, stock holding limits on pulses are self-defeating, say industry players

The lower tax rate will apply from June 30 to September 30, the government said

The edible oil industry on Monday welcomed the announcement of agricultural development cess and the increase in import duty of crude palm oil in the Union Budget 2021-22

The government on Thursday reduced the basic customs duty on crude palm oil to 27.5 per cent, a move that would increase availability of the commodity in the domestic market.

India imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

Edible oil industry body SEA on Thursday said it has urged the government to allow import of only crude palm oil and place all refined oils under the restricted category of trade