Palm Oil Prices

Benchmark palm oil futures, which jumped 20 per cent in 2024 to a two-year high, have already lost market share as top importers like India shift to cheaper alternatives such as soybean

The company's net sales in Latin America, a major revenue contributing region, fell 7.2 per cent and dropped 1 per cent in North America. On an adjusted basis, its profit of 91 cents per share

The thin lineup of vessels carrying palm oil at key ports such as Kandla, Haldia, and Krishnapatnam over the next two weeks suggests imports could drop to about 370,000 metric tons in Jan

Crude palm oil, one of the main ingredients in the manufacture of some consumer goods, saw a price rise of 45.2 per cent in the last three months

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

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

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

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

The increase in the tax on palm oil could lift local prices, making the tropical oil a little less competitive than rival soyoil and sunflower oil

Imports of soyoil gained 10.1% to 252,525 tonnes while sunflower oil imports jumped 23% to 194,009 tonnes, a release said

India's edible oil import bill rose 34.18 per cent to Rs 1.57 lakh crore in the oil year ending October 2022, while in volume terms it rose 6.85 per cent to 140.3 lakh tonnes, industry body SEA said on Monday. India, the world's leading vegetable oil buyer, had imported 131.3 lakh tonnes of edible oils in the 2020-21 oil year (November-October) for Rs 1.17 lakh crore in the previous year, according to the Solvent Extractors Association of India (SEA). Import gradually increased during the first two quarters and it slowed down in the third quarter. However, it again increased in the fourth quarter due to the lifting of a ban on palm oil by Indonesia and a sharp decline in international prices which boosted buying from India, it said. According to SEA, high volatility in palm oil prices this year affected India's palm oil buying. In March-April for a brief period, palm oil was as expensive as soft oils. Its availability was further affected in May-June by Indonesia's decision to ban

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India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late on Friday, as prices corrected in the world market.

With commodity prices deflating from their March peak levels, analysts expect the margin profile across consumer goods companies to improve going ahead.

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

Indonesia's ban on palm oil exports shocked global edible oils markets that already reached record high prices this year, and sparked alarm among major importers of the cooking medium.

Instead of a recovery in gross margins in fiscal 2022-23 (FY23), Jefferies now builds-in 50-200 basis point (bps) YoY decline, assuming crude stays closer to $100 a barrel and palm oil at $1,500/MT