Palm Oil

GCPL said it expects a "flattish" earnings growth in the domestic market in the September quarter as higher palm oil prices added to input costs

Malaysia's Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani on Tuesday termed India's recent hike in palm oil import duty as a "temporary aberration", saying demand for the commodity remains steady. Ghani dismissed speculation about arrangements between Malaysia and India for palm oil supplies in exchange for fighter aircraft transfers. India, the world's largest edible oil importer, raised import duties on palm oil and other edible oils on September 14, 2023, increasing the effective duty on crude palm oil from 5.5 per cent to 12.7 per cent and on refined oils from 13.75 per cent to 35.75 per cent. "Any kind of aberration, for me, it is just temporary," Ghani said responding to a PTI query during a press conference on the sidelines of the Malaysia Palm Oil Forum. The recent tariff policy changes by India will not create any "issue", he added. The minister emphasised that India, with its population of 1.4 billion, has various options for edible oils, including pal

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

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 palm oil imports registered a 34.11 per cent jump on-year in April to 6,84,000 tonnes, buoyed by a fall in global prices, the Solvent Extractors' Association of India (SEA) said on Tuesday. Palm oil accounted for 52 per cent of India's total edible oil imports of 13,04,409 tonnes in April, the trade body said in a statement, adding that sunflower and soybean oils import stood at 6,20,315 tonnes. Including non-edible oils, overall vegetable oil imports rose 26 per cent in April to 13,18,528 tonnes compared to 10,50,189 tonnes a year ago, it said. Bearish global prices encouraged higher imports of refined, bleached and deodorized (RBD) palmolein and crude palm oil (CPO), which declined by nearly USD 100 a tonne last month, SEA said. Soybean oil prices fell USD 40 per tonne globally, while the sunflower oil rate dropped just USD 15 a tonne over the last month, it added. Among palm oils, RBD palmolein imports climbed to 1,24,228 tonnes as against 1,12,248 tonnes in the year-ag

The Nifty FMCG index declined 1.7 per cent to 52,940 level in the intraday trade, dragged by Nestle India (down 3.3 per cent), Colgate Palmolive (3.25 per cent), Godrej Consumer Products (3 per cent)

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

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

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

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 .

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 company 3F Oil Palm on Wednesday said it has inked an agreement with the Andhra Pradesh government to invest Rs 550 crore over next five years for oil palm plantation, development and processing. Under the Memorandum of Understanding (MoU), 3F Oil Palm will develop nursery, crop maintenance facility, farmer services, fresh fruit bunches (FFB) collection and handling, research and development facilities, and a greenfield integrated palm oil processing complex in Ayyavaram village, Nallajerla Mandal, East Godavari, the company said in a statement. The company has also been allotted an additional 24 zones in the five districts of Tirupati, Chittoor, Guntur, Nandyal and Krishna with a potential area of over 1,00,000 hectares, it added. "We are enthusiastic to embark on this transformative journey with the farmers of Andhra Pradesh. Our milestone investment of Rs 550 crore not only signifies our confidence in the potential of the region but also our commitment to sustainable and

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market

Godrej Agrovet Ltd (GAVL) on Saturday said it will set up an integrated palm oil complex in Telangana with an investment of Rs 300 crore over the next 3-4 years. The palm oil complex, to be set up in the Khammam district of Telangana, is spread over 125 acres and will consist of a crude palm oil mill along with the provision of setting up a refinery in the near future, GAVL said in a statement. The company will also establish a nursery with a capacity of up to 7 lakh saplings per year in addition to the seed production and research unit, it added. "Telangana's ambitious oil palm mission aims to bring 20 lakh acres under cultivation across the state. The mission will improve income for more than 5 lakh farm households, while at the same time contributing to the nation's deficit for edible oils. "Along with being the rice bowl for the country, Telangana is all set to become the largest edible oil producer in India," Telangana Municipal Administration and Urban Development, Industries

Higher purchases by the world's biggest importer of palm oil could help to lower inventories in top producing Indonesia and Malaysia and support benchmark futures

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

3F Oil Palm on Monday said it has started oil palm cultivation in Lakhimpur district, Assam, in association with the state government, and aims to cover over 20,000 hectare area in the next five years under a central scheme. The Hyderabad-based company is undertaking the plantation as part of the centrally sponsored scheme National Mission on Edible Oil - Oil Palm (NMEO-OP) and had signed an agreement with the Assam government in December 2022. 3F Oil Palm commenced oil palm plantation on Monday at Bokanala in Baginadi Block, Lakhimpur district, in the presence of state agriculture minister Atul Bora. The initiative aims to uplift farming communities and contribute to India's self-reliance on edible oils. "...upon signing of the MoU with the government in December 2022, we are the first company to have commenced our investment and set up a state-of-the-art nursery and commence plantation activities through this ceremonial plantation," the company's CEO and Managing Director Sanjay .

Godrej Agrovet's Oil Palm Business on Thursday said it has partnered with the State Bank of India (SBI) to offer loans to oil palm farmers for setting up micro irrigation facility and install fencing to protect crops from cattle and improvement of tube well at their oil palm farms. Introduced with an objective of aiding oil palm growth by improving Fresh Fruit Bunches (FFB) productivity, it will act as a catalyst to maintain juvenile gardens during the gestation period of the first 5 years, Godrej Agrovet said in a statement. "The partnership with SBI is a testament of our company's efforts to improve farmer's confidence in sustainable oil palm farming. With no income visibility during the long gestation period, this partnership will aid bridge the gap for their finance needs during the initial years," Godrej Agrovet CEO, Oil Palm Business, Sougata Niyogi said. He further stated that the implementation of National Mission on Edible Oils - Oil Palm (NMEO-OP) has generated a new sense

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

Oil palm plantations raised in the Andaman and Nicobar Islands in the past have proven to be a total commercial failure, the Supreme Court-constituted Central Empowered Committee (CEC) has said, questioning the need to revive the commercial crop in the archipelago. In a note submitted to the apex court on January 12, the committee said any permission for diversion of forest land for red oil palm plantation in the archipelago in violation of the Forest Conservation Act, 1980, "is bound to open flood gates in all the states for similar agricultural purposes on forest lands". The CEC also said oil palm plantation might lead to encroachment of forest lands in the islands group and asked why the production of palm oil could not be taken up on the mainland. The Union Territory administration, in January 2019, moved the Supreme Court seeking revocation of its 2002 ban on commercial and monoculture plantations on forest land in the Andaman and Nicobar Islands. The proposal is part of the .