The bullish prospects for vegetable oil prices will show no sign of abating in 2022, Vivek Pathak, managing director of Athena Tradewinds, an India-based trading house predominantly dealing in sunflower oil, told S&P Global Platts in an interview. “We have seen the highs for this current year, but prices in 2022 will surpass current levels […]
India produced 93.18 lakh tonnes of vegetable oils in 2020-21 (November-October), as against 85.38 lakh tonnes and 76.87 lakh tonnes in the previous two years. But despite this record output, the industry body Solvent Extractors’ Association of India estimates the country will end up importing some 133 lakh tonnes, from the 155.49 lakh tonnes of […]
Global food commodity prices fell in July for the second consecutive month, according to a benchmark United Nations report released on Thursday. The FAO Food Price Index averaged 123.0 points in July 2021, 1.2 percent lower than the previous month although still 31.0 percent higher than its level in the same period of 2020. The index tracks […]
India’s imports of vegetable oils fell by 20 per cent month-on-month in June to 996,014 tonness due to higher stocks at its ports, the Solvent Extractors’ Association of India (SEAI), a national trade body, said. Palm oil imports, which account for over 60 per cent of the country’s vegetable oil purchases, fell 23.6 per cent […]
India’s export of agricultural and allied products in 2020-21 grew by 17.34 per cent to $ 41.25 billion. Commerce Secretary Anup Wadhawan said huge growth has been seen in the export of cereals, non-basmati rice, wheat, millets, maize and other coarse grains. The largest markets for India’s agricultural products are the US, China, Bangladesh, UAE, […]
A tight market situation is seen for oilseeds and oilseed products in 2020/21, with resumed production growth foreseen insufficient to meet world demand, the FAO said in its latest Food Outlook. In 2020/21, global oilcrop production is expected to recover from the previous season’s reduced level, with an area-driven rebound in soybean and rapeseed production […]
India’s vegetable oil imports fell by 2 per cent in November to 11.02 lakh tonnes due to a sharp decline in inward shipments of refined palm oil, according to industry data. The marketing year for vegetable oils (edible and non-edible oils) runs from November to October. “Import of vegetable oils during November 2020 is reported […]
The global benchmark price index for food commodities rose in September, led by vegetable oils and cereals, according to a report from the Food and Agriculture Organization of the United Nations. The FAO Food Price Index averaged 97.9 points during the month, up 2.1 percent from August and 5.0 percent higher than its value in September 2019. […]
The import of vegetable oils in February 2020 has dropped 10.5% to 11,12,478 tonnes compared to 12,42,533 tonnes a year ago, consisting of 10,89,661 tonnes of edible oils and 22,817 tonnes of non-edible oils. The overall import of vegetable oils during November 2019 to February 2020 stood at 45,63,791 tonnes compared to 48,62,849 tonnes, a […]
World food prices rose significantly in November, reaching their highest point in more than two years, driven by jumps in the international prices of meat products and vegetable oils, the UN food agency said in its latest report. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged […]
