The Solvent Extractors’ Association (SEA) said that October saw a 60% month-over-month increase in India’s palm oil imports, reaching 845,682 metric tonnes, driven by festive demand and refilled supplies. This increase may put a strain on Malaysian and Indonesian palm oil supplies worldwide. Imports of sunflower oil increased 56.5%, while imports of soy oil decreased…
The mandi prices of soybean, a crucial variety of oilseed for Kharif, have increased by approximately Rs 500 per quintal since the government announced two weeks ago that the import levy on edible oil would be increased. As new supplies enter the market, soybean prices align with the minimum support price (MSP) for the upcoming…
With the recent announcement of increased import levies on crude and refined oil, consumers are starting to feel the squeeze of inflation in kitchen basics like edible oil. The modal or benchmark retail prices of mustard, sunflower, and palm oil all of which are frequently used in Indian kitchens—have increased to Rs 148/litre, Rs 129/litre,…
India’s palm oil production is expected to triple in six years due to increased area under oil palm plantations and mature plantations for harvesting. The world’s largest edible oil importer relies on Indonesia, Malaysia, and Thailand for palm oil supplies. An increase in production will help India reduce edible oil imports, which account for nearly…
The mandi prices of mustard, a crucial oil seed, are currently below the minimum support price (MSP) due to projections of a bumper harvest and increased edible oil imports, according to traders and farmers. The main hub of the nation’s trade, Bhagalpur, Rajasthan, saw mandi prices of mustard seed on Monday hovering around an average…
According to a report released on Monday by the trade association Solvent Extractors’ Association of India (SEA), imports of edible oils—palm, soya bean, and sunflower—were down 23% to 3.64 million tones during the first quarter of the 2023–24 oil year (October–September) when compared to the same period the previous year. The nation imported 1.2 million…
In order to guarantee sufficient supply of molasses for regional ethanol manufacturers, the government on Tuesday declared a 50% export charge on the commodity. Additionally, the import duties on edible oils were prolonged by an additional year. The current import levy on refined and crude edible oils, such as sunflower, soy, and palm, has been…
An all-time high of 13.14 million tonne (MT) of mustard seed is expected to be produced in the 2023–24 season thanks to record sowing this season, which will increase domestic edible oil supply. A reassessment of the import tariff relief for food oils such as palm, soybean, and sunflower may be required by this. The…
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…
