Mandi prices for soybeans increase due to an increase in import duties; they are expected to surpass MSP once shipments start.

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…

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The output of palm oil in India is expected to increase in the next six years

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…

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Imports of edible oil decrease by 23% to 3.64 in the 2023–24 oil year

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…

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