India’s import of palm oils rose 56.50 per cent to 5,26,463 tonnes in March this year as refiners were discouraged to import sunflower oil due to high prices, industry body Solvent Extractors Association (SEA) said. India, the world’s leading vegetable oil buyer, had imported 3,36,392 tonnes palm oils in March 2020. The country’s total vegetable […]
Palm oil—the world’s most consumed cooking oil—took a heavy blow at the start of the week as Sri Lanka banned its import and told planters to phase out the tropical trees in favour of rubber or other environment-friendly crops. Sri Lanka’s President Gotabaya Rajapaksa ordered companies and other entities growing oil palm to remove the […]
Favourable weather and surging prices of palm oil are projected to drive world’s top producer Indonesia’s output and exports this year to a record 45.5 million tons during this marketing year, according to the US Food and Department of Agriculture (USFDA). “As the economy rebounds and social distancing and travel restrictions are eased, soybean and soybean meal […]
China’s soybean imports are forecast to reach a record 100 million metric tons in the current marketing year, up by 1 million tons from the previous year to meet feed demand for the livestock and poultry sectors, according to the U.S. Department of Agriculture (USDA) in a report. The production of soybean is forecast to be essentially […]
Palm oil imports by top buyers in India fell from a 10-month high as a slow recovery of the food services industry curtailed demand for the world’s most-used vegetable oil, Boomberg reports. Inbound shipments fell 11% to 734,000 tonnes in August from a month earlier as traders and refiners cut back purchases after replenishing reserves […]
Globalisation has seen the world become a neighbourhood, impacting businesses in myriad ways. It allows easy access to goods and services from the best source, keeping costs down, and providing freer and cheaper access to consumers, trade and industry. With the world having shrunk, there is global competition. The consumer has a wide variety of […]
Mumbai-based Solvent Extractors Association of India (SEA), the edible oil industry body has urged the government to allow import of only crude palm oil and place all refined oils under the restricted category of trade. In a recent virtual meeting with Food Ministry Secretary Sudhansu Pandey on ways to boost domestic production and reduce import of edible oils, […]
India’s palm oil imports in July 2020 rose 1.4 per cent from a year ago to 824,078 tonnes, the highest level in 10 months, as a gradual easing of lockdowns increased demand for the tropical oil from hotels and restaurants. The country’s soyoil imports in July surged 52 per cent from a year ago to 484,525 tonnes, […]
Palm oil demand in India, the world’s top edible oil importer, is set to plunge this year as coronavirus lockdowns have slashed food service sector demand, while households are opting for alternatives at the supermarket. Traders say India’s palm oil imports could plunge 20 per cent from a year ago to 7.5 million tonnes in the 2019/20 marketing […]
Crude palm oil prices may rise to 2,300-2,400 ringgit ($528.37-$551.34) per tonnne in the coming months as Malaysia’s relationship with top importer India improves, industry regulator the Malaysian Palm Oil Board (MPOB) said this week. The newly appointed MPOB Chairman Ahmad Jazlan Yaakub said in a statement the rally will come as a relief to […]
