Palm Oil Prices

With crude palm oil rates on fire, consumer firms start raising prices

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

India's palm oil output may face winter chill: Malaysian scientist

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

Why Indians might find it difficult to cut down on their palm oil demand?

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

Palm oil dips on stronger ringgit, prospects of lower India purchases

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

Why is achieving 'atmanirbharta' in edible oils a difficult ask?

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

Godrej Agrovet interested to set up palm oil processing unit in Telangana

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 ...

Palm oil rebounds on robust Indian demand and stronger crude prices

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

Palm oil imports jump 29% to 9.08 mn tonnes in Nov-Sept of 2022-23: SEA

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

India considers raising palm oil import tax to help rapeseed farmers

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

India's Dec palm oil imports fall 2.8% to 1.11 million tonnes: Trade body

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 rises 34% to Rs 1.57 trillion, says SEA

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

Our Ebitda share from non-cigarette biz at 27%: ITC CMD Sanjiv Puri

As part of the ITC Next strategy, we are making sure that the organisation remains agile, nimble and consumer-centric at all times

India slashes base import prices of crude, refined palm oil and gold

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.

Deflating commodity costs to aid FMCG firms in H2FY23: Analysts

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

Govt slashes base import price of palm oil; raises rate of soyoil

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

Global edible oil markets simmer over shocking Indonesian ban on palm oil

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.

Analysts see more pain ahead for FMCG stocks amid rising input costs

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

Palm oil becomes costliest vegoil as Ukraine war halts sunoil supply

Palm oil's record premium over rival oils could squeeze price-sensitive Asian and African consumers already reeling from spiralling fuel and food costs, and force them to curtail consumption and shift

India's series of interventions arrest domestic spike in palm oil prices

Widely used in edible oil blending, cosmetics, processed food products, palm oil's prices on Bursa Malaysia Derivatives is considered to be the global benchmark among trade circles

Govt slashes import duty on refined palm oil to 12.5% to cool retail prices

The government has reduced the basic customs duty on refined palm oil to 12.5 per cent from 17.5 per cent till March next year to boost supplies and bring down rates in domestic retail markets