India’s palm oil import increases by over 56% in March 2021 mainly due to high sunflower oil prices

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 […]

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World’s top palm oil producer Indonesia projected to reach record output

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 […]

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Palm oil prices in India may fall as demand weakens, imports drop: Bloomberg

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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 […]

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Solvent Extractors Association requests govt to allow import of only crude palm oil to India

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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, […]

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Indian palm oil demand dips as food sector, households seek alternatives

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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 […]

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Malaysian Palm Oil Board to improve ties with India in order to boost crude palm oil prices

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 […]

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