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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Interview – Edible oil demand in India to return only slowly after coronavirus destruction

The national lockdown in India on fears of the spread of the coronavirus pandemic has hit the country’s edible oil industry hard, and demand that plunged sharply is expected to return only slowly over the next six months, Atul Chaturvedi, President of Solvent Extractors Association of India (SEA), tells Shampa Bahadur in an interview. Q. […]

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India restricts refined palm oil imports from Malaysia over Kashmir, CAA

The government has imposed restrictions on imports of refined palm oil and palmolein, a move in retaliation against top supplier Malaysia after its criticism of India’s actions in Kashmir and the Citizenship (Amendment) Act, 2019 (CAA). According to a notification of the Directorate General of Foreign Trade (DGFT), “import policy” is amended from “free to […]

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India’s vegetable oil imports rise 3.5% at 155.5 lakh tonne in 2018-19: SEA

India’s vegetable oil imports increased by 3.5 per cent to 155.5 lakh tonnes in 2018-19 marketing year ended October, due to increase in inward shipments in refined oils, according to industry data. Imports of vegetable oils (comprising edible and non-edible oils) stood at 150.26 lakh tonnes in the previous year. While shipments of edible oil […]

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India’s oilmeal exports drop 73% in August 2019; Malaysia end-Aug palm oil stocks fall to 2.25 million tonnes

India’s exports of oilmeals fell by 73 per cent in August 2019 at 98,871 tonnes on account of higher domestic prices of soyabean meal, according to data compiled by the Solvent Extractors’ Association of India (SEA). Export of oilmeals during August 2018 stood at 359,752 tonnes. The overall export of oilmeals during April-August 2019 declined […]

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