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

Malaysia remains optimistic about palm oil exports to India despite recent import duty hike, with the Malaysian Palm Oil Council (MPOC) Chairman Dato Carl Bek Nielsen emphasizing the long-standing trade relationship between the two countries. In an interview to PTI, Nielsen stressed that India, being the world's largest palm oil importer, continues to be an "incredibly important market" for Malaysian palm oil. He pointed out that such tariff adjustments have occurred in the past and are part of the normal trading relationship between the two countries. "This has been done before. Duties have been raised, and duties have been reduced, and we will see that this pattern will repeat itself in the future," Nielsen said. He said that the council's approach would be based on long-term partnership rather than "short-term knee-jerk reactions." He also added that the council is "not worried" about the tariff changes because there are other countries which would want to buy Malaysian palm oi

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

Key users such as cookie makers, restaurants and hotels in India are unlikely to look for substitutes immediately, even as some household consumption of palm oil may shift to its rivals

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

India currently imports around 16 million tons of vegetable oils per annum, including 9 to 10 million tons of palm oil, mainly from Indonesia, Malaysia and Thailand

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

India's palm oil imports rose more than 37 per cent in July from previous month to about 1.1 million metric tonnes, highest since Aug 2023 and in line with traders' estimates, SEA of India said

India on average has been importing 1.2 million tons of edible oil so far in the current marketing year which began November 2023.

India is a key supplier of rice, sugar, and onions for Malaysia, in turn, Malaysia is the second-largest exporter of palm oil to India after Indonesia

Price volatility may lead some companies to reduce palm oil consumption and seek alternatives, but its historically lower cost will likely keep it as the top choice for consumers

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

Crude oil imports in January rose 9.5% month-on-month to 21.39 million metric tons, and were up 5.7% on year-on-year basis, Petroleum Planning and Analysis Cell (PPAC) data showed on Thursday

Edible oils industry body SEA on Monday demanded import curbs on finished products, including stearic acid and refined glycerine or impose duty with additional tariff on raw materials to safeguard the domestic industry. In a representation made to Food and Commerce Minister Piyush Goyal, Mumbai-based Solvent Extractors Association of India (SEA) said: "Domestic oleochemical industry facing severe threat due to large scale import of finished product viz. stearic acid, refined glycerine, soap noodles and oleic acid at nil duty." SEA has requested the government to take immediate steps to safeguard the interests of the domestic industry by taking some measures. "Imports of finished products like stearic acid, soap noodles, oleic acid and refined glycerine should be placed under restricted items list," it said. Or else, the government should impose import duty on these products with additional duty of 25 per cent on imported raw material like refined palm stearin, it said. That apart,

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 Telangana government on Tuesday said that Godrej Agrovet Company Ltd has expressed interest in setting up an integrated palm oil processing unit in collaboration with Malaysia-based company Sime Darby in Khammam district. A delegation of Godrej Agrovet Company Ltd led by its Managing Director Iram Singh Yadav met Chief Minister Revanth Reddy at the state secretariat here today and held discussions in this regard, an official release said. Reddy promised to extend all kinds of support to expand the existing palm oil and dairy businesses of the company in the state. The chief minister also advised the company to promote skill development as part of its corporate social responsibility. The chief minister suggested that the delegation also explore the state's huge potential in real estate, furniture and consumer goods, the release added. State IT and Industries Minister D Sridhar Babu, Chief Secretary A Santhi Kumari and other officials were also present during the meeting, the ...

India's palm oil imports in December rose to their highest in four months as purchases of refined palmolein surged because of competitive prices

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

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

Soyoil imports in the year fell 12% to 3.68 million tons as for most of the months it was trading at a premium over palm oil and sunflower oil