India’s palm oil imports climbed 65 per cent in May 2019 from a year earlier due to lower import duty and a drop in prices. Palm oil imports totalled 818,149 tonnes last month, including 371,060 tonnes of refined palm oil, the Solvent Extractors’ Association (SEA) said in a statement. India, the world’s biggest importer of […]
India imported 1,232,283 tonnes of vegetable oil, consisting 1,198,763 tonnes of edible oils and 33,520 tonnes of non-edible oils, in April, down 11 per cent as compared to 1,386,466 tonnes in April 2018, according to latest data from the Solvent Extractors Association (SEA). The overall import of vegetable for the first six months of the […]
Recent reports indicate that, pending regulatory approval, the Dalian Commodity Exchange in China will open trading to foreign participants in futures contracts on soybeans, soymeal, soy oil and palm oil. This is the latest in a series of actions by China, beginning in early 2018, to gradually open futures trading on its commodities exchanges to […]
The Indian government announced the following changes to various commodities as under: TABLE-1 Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value (US $Per Metric Tonne) (1) (2) (3) (4) 1 1511 10 00 Crude Palm Oil 572 2 1511 90 10 RBD Palm Oil 598 3 1511 90 90 Others – […]
India has cut import taxes on crude and refined palm oil from Association of South East Asian Nations (ASEAN) countries after a request from suppliers, a government notification said. The reduction will lead to higher imports of palm oil by the world’s biggest edible oil buyer in coming months as it would narrow the difference […]
Indonesia has relaxed rules on levies for palm oil and derivative products effective immediately following a drop in palm oil prices, according to the Indonesian finance ministry regulation uploaded on a government website. Indonesia, the world’s top exporter of palm oil, will not collect levies from palm exporters when prices are below a threshold of […]
Despite slump in global palm oil prices – lowest in three years – India’s palm oil imports are unlikely to climb over November to January due to ample local supply of oilseeds. India imports palm oil from Indonesia and Malaysia, with its Soyoil mainly imported from Argentina and Brazil. It purchases sunflower oil from Ukraine. […]
Malaysia’s palm oil stocks likely edged down in September from seven-month highs in August as shipments from the world’s No.2 exporter of the commodity outpaced production-growth for the month, a Reuters survey showed. September inventories are expected to have dropped 0.7 per cent from the month before to 2.47 million tonnes, according to the survey. […]
The government of India has decided to provide direct assistance to the oilseed farmers after failing to achieve last year’s oilseed target. The government is likely to provide assistance worth Rs 3,000-5,000 per hectare to cultivators who take up any oilseed crop as an inter-cropping model, so that the country’s dependence on imports of edible […]
Indonesia has laid out new rules for commodities exporters to guarantee funding for shipments through local banks or branches of foreign banks in the country, the trade minister said, as part of a bid to prop up the ailing rupiah. The Indonesian currency has fallen about 9 per cent versus the dollar this year, caught […]
