Indian edible oil mkt relieved, Indonesia not to ban crude palm oil export

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

Indian edible oil markets heaved a sigh of relief after Indonesia, which is the world’s largest producer of palm oil, clarified that the export ban announced late last week won’t be applicable to crude palm oil but will only cover shipments of refined, bleached, deodorised (RBD) palm olein.

This in a way is also beneficial to the Indian local refining industry as any move to curb import of refined oils boost domestic oilseeds crushing and refining.

“Almost 70 per cent of the total annual palm oil imported into India estimated to be around 8-8.5% is in the crude form while the rest