The industry anticipates an early implementation of a robust policy framework along the lines of the one the government established for the expansion of oil palm plantations in the nation, given that Finance Minister Nirmala SithaRaman stated a special focus to promote edible oil crops. The industry, which uses up foreign cash because the nation…
A government directive released on Friday states that the reduced import tariff regime on edible oils, such as refined sunflower oil and refined soybean oil, has been extended by the central government until March 25 in an effort to control food inflation. The Finance Ministry officially announced that the lower tariff, which was originally scheduled…
As a result of reduced import tariffs, India’s imports of edible oils—palm, soybean, and sunflower—rose 17% year over year to a record 16.47 million tonne (MT) in the 2022–2023 oil year (November–October), according to the trade association Solvent Extractors Association of India (SEA). The amount of these cooking oils imported peaked in 2016–17 at 15.1…
The current oil year (November 2022–October 2023), according to trade group Solvent Extractors Association of India (SEA), is expected to see a record 17 million tonne (MT) of edible oil imports into India. Exports totaled 14 MT last year. As of 2016–17, when the nation imported 15.1 MT of oil, the volume of imported cooking…
Even though shipments into the country climbed by 22% during that time, the palm group of oils remained to dominate the vegetable oil import basket, making up 63% of all imports from November 2022 to March 2023 of the current oil year to October. Data from the Solvent Extractors’ Association of India (SEA) show that…
According to a senior industry official who spoke to Reuters on Tuesday, India’s imports of palm oil might increase 16% to a four-year high of 9.17 million tonnes in 2022/23 as demand is expected to increase following two years of contraction due to COVID-led lockdowns. Palm oil futures are already trading near their highest level…
India’s imports of palm oil in February fell 30% from January to their lowest level in 8 months as refiners decided to reduce their inventories as inventories grew as a result of excessive imports in October-January, five dealers told Reuters on Thursday. The price of palm oil produced in Malaysia could be affected by India’s…
Godrej Agrovet is investing 250 crores in the construction of an oil palm processing complex in Telangana. The factory, which is being built in the Khammam district, would initially have a 30-tonne-per-hour capacity. A government statement issued here on Thursday stated that “the capacity can be quadrupled in a subsequent phase.” Godrej Agrovet Ltd.’s managing…
The first month of the oil year 2022–2023 saw an increase in imports of 34.24 percent (November to October). Data from India’s Solvent Extractors’ Association show that edible oil imports rose to 15.28 lt in November 2022–23 from 11.38 lakh tonnes (lt) in November 2021–22. (SEA). India imported 9.31 lt of CPO in November, up…
Vegetable oil producers in India are grinning once more as edible consumption has returned to pre-Covid levels. In the 2019–20 season (November–October), the average person’s consumption of edible oil fell by 7.8 percent, and the future years’ price volatility further impacted the off-take. And now for the good news for manufacturers of edible oils. Unexpectedly,…
