Palm Oil

Last week, Indonesia said it will suspend some palm oil export permits to secure domestic supply as cooking oil prices rise ahead of upcoming Islamic festival Ramadan

Oil palm plantations raised in the Andaman and Nicobar Islands in the past have proven to be a total commercial failure, the Supreme Court-constituted Central Empowered Committee (CEC) has said, questioning the need to revive the commercial crop in the archipelago. In a note submitted to the apex court on January 12, the committee said any permission for diversion of forest land for red oil palm plantation in the archipelago in violation of the Forest Conservation Act, 1980, "is bound to open flood gates in all the states for similar agricultural purposes on forest lands". The CEC also said oil palm plantation might lead to encroachment of forest lands in the islands group and asked why the production of palm oil could not be taken up on the mainland. The Union Territory administration, in January 2019, moved the Supreme Court seeking revocation of its 2002 ban on commercial and monoculture plantations on forest land in the Andaman and Nicobar Islands. The proposal is part of the .

Imports of soyoil gained 10.1% to 252,525 tonnes while sunflower oil imports jumped 23% to 194,009 tonnes, a release said

Higher imports by India, the world's biggest palm oil buyer, would help top producer Indonesia cut its inventories and support benchmark Malaysian palm oil prices

Leading FMCG companies say they are keeping a close watch on prices of major commodities, which have fallen in case of some items like palm oil, but the decline has not been "secular and broad-based". While prices of palm oil have eased and sugar is stable, FMCG firms pointed out that rates of some other major items including wheat are still firm and hence they would wait and watch before taking any call on reducing the price. Softening of commodities prices will help the FMCG firms in improving their profit margins and also some elbow room to pass on the benefits to consumers by lowering the MRP (maximum retail price) of their products. Nestl India Chairman and Managing Director Suresh Narayanan said the company is watching the situation. However, he said softening in commodity prices is not secular and broad-based. "We will watch the situation and evaluate our next step. The price decline in commodities is not secular and broad-based," Narayanan told PTI on the sidelines of an ev

The association has argued that a 15 per cent duty difference would help reduce refined palmolein imports and replace the same with crude palm oil imports

The country's palm oil imports in the marketing year ended on Oct. 31 fell to 7.9 million tonnes

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India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late on Friday, as prices corrected in the world market

Higher palm oil imports would lift India's total edible oil imports to 14.1 million tonnes in 2022/23 from 13.8 million tonnes, the survey showed

Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, industry officials said

Firm lays foundation stone for oil palm mill in the state where already has two nurseries and plans three more

India is committed to importing 2.6 million tonnes of palm oil products worth $3.16 billion, Indonesia's trade minister said in a statement on Tuesday

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Though there has been an increase in acreage and production of these items, there hasn't been a big reduction in paddy and wheat acreage

It will also help Indonesia to reduce stockpiles that swelled after its export ban earlier this year and pressured local prices lower and squeezed farmer's incomes.

Decision arrived at today during a meeting between industry players & officials

India, the world's leading vegetable oil buyer, imported 7,69,602 tonnes of palm oils in May 2021

Manufacturers, who make up nearly one-fourth of the economy, fear losing customers to other countries as growth picks up

Indonesia, the world's biggest palm oil producer, on April 28 halted exports of the oil, which it uses for cooking, in efforts to control soaring prices at home