Indian Palm Oil Imports

Weather has been favourable for Indian crops this year, resulting in higher production of soybean and ground nuts, Mehta said, adding that rapeseed output was also expected to rise

The drop in imports of palm oil, soyoil and sunflower oil brought down the country's total edible oil imports by 31 per cent to 1.06 million tons, as per dealers' estimates

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

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

Harikrishna said that in India winter is the main concern in getting optimum yields as when the temperature drops palms get stressed and start producing male flowers

India's edible oil imports declined 16 per cent annually in December to 13.07 lakh tonnes due to lower shipments of crude and refined palm oils, according to industry data released on Friday. Solvent Extractors' Association of India (SEA) data showed imports of edible oils fell to 13,07,686 tonnes in December last year from 15,55,780 tonnes in the year-ago period. In the edible oil category, crude palm oil imports decreased to 6,20,020 tonnes from 8,43,849 tonnes, while (Refined Bleached Deodorised) RBD Palmolein's inward shipments slipped marginally to 2,51,667 tonnes from 2,56,398 tonnes. However, imports of crude sunflower oil increased to 2,60,850 tonnes from 1,94,009 tonnes during the period under review. Non-edible oil inward shipments fell to 4,000 tonnes in December last year from 10,349 tonnes in the same month of the previous year. SEA said imports of vegetable oils (edible oils and non-edible oils) in December 2023 fell 16 per cent to 1,311,686 tonnes from 15,66,129 ton

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

The Tripura government has set a target of bringing 7000 hectares of land under palm oil cultivation by 2026-27 financial year, a senior minister has said. At present, palm oil plants are cultivated in 56.35 hectares of land in the northeastern state. "To expand palm oil cultivation in the state, digital mapping was done in 2020 by the Indian Council of Agricultural Research (ICAR) and the Indian Institute of Oil Palm Research. In the process, 1,46,364 hectares of land were identified in the state. "Of that, 7000 hectares of land would be brought under palm oil cultivation by 2026-27," Agriculture Minister Ratan Lal Nath said. To tap the potential, the Agriculture department has signed MoUs with Godrej Agrovet Ltd and Patanjali Food Private Ltd under the National Mission on Edible Oil, he said. Nath said Godrej Agrovet Ltd has set up a nursery at Nalkata in Unakoti district. "Godrej Agrovet has also brought palm plants from Andhra Pradesh and planted them on 52.01 hectares of lan

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

Edible oil industry body SEA has demanded that the government should increase the duty difference between crude and refined palm oil to 15 per cent from 7.5 per cent to curb imports of refined cooking oil and protect domestic players. In a letter to its members, Solvent Extractors' Association of India (SEA) President Ajay Jhunjhunwala pointed out that Indian vegetable oil (comprising of edible and non-edible oil) refining industry is "facing challenges". "The Indian edible oil Industry, with a size of Rs 3 lakh crore (USD 35 billion), holds significant importance. Over the last 12 years, Indonesia and Malaysia have imposed higher export taxes on Crude Palm Oil (CPO) compared to refined Oil to protect their refining industry. This has made refined oil cheaper, rendering Indian capacity redundant and unutilized," he said. In India, the duty differential between CPO and refined palm oil has been reduced to 7.5 per cent, "serving the interests of the refining industry in Malaysia and .

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

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 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

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

India's palm oil imports in September jumped about 18% from the previous month to 1.17 million tonnes, while vegetable oil imports rose about 17% to 1.64 million tonnes, a trade body said on Thursday.

Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, industry officials said

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.

Indonesia's allowance of more exports globally and a reduction of palm oil prices in India have paved the way for a high palm oil import in 10 months

India imported 514,022 tonnes of palm oil in May, down from 572,508 tonnes in April

India's palm oil exports in May were its highest in seven months as the country overcame curbs on Indonesian exports by sourcing more of the commodity from Malaysia, Thailand and Papua New Guinea