Crude palm oil prices, which hit a record high of Malaysian ringgit 7,268 (₹1,30,824) a tonne on March 9, have decreased by half of it’s high price in four months on the back of changing oil market dynamics. Indonesia, the major producer, and exporter, lifted its export ban within three weeks of imposing it in…
Production of soyabean is in full swing in the key growing areas of central India with the monsoon picking up in the region. As per the latest production figures released by the Soyabean Processors Association of India (SOPA), the oilseed has been cultivated on over 70 lakh hectares (lh) across the country. With brisk production…
Edible oil prices may decrease in the domestic market soon, helping to cool food inflation and lessen the pressure on household budgets. Following an order from the food ministry to cut prices by Rs 10-12/liter in view of the decline in global prices and the recent import tax cuts, major producers, including Adani Wilmar and…
Palm oil prices resumed their downward direction on Wednesday after having gained on the first two days of the week following the suspension of production by some Malaysian producers. The edible oil also gained as soyabean oil prices increased on the Chicago Board of Trade during the weekend. However, the downward pressure on palm oil,…
The Soybean Processors Association of India (SOPA) has urged the Union government to gradually roll back the exemption of customs duty on edible oils to stem the falling domestic prices of soybean. The fall in edible oil prices has also contributed to a substantial fall in soybean prices in the domestic market. In a letter…
Coconut oil manufacturers are doubtful about a rally in prices, at least in the short term, at a time when rival edible oils are moving high. The excess production in the growing regions for the fall, thanks to good climatic conditions in the last two harvest seasons. The industry people expect the current harvest also…
The Solvent Extractors Association (SEA) of India expects that the soyabean crop is likely to be lower at 10 million tonnes (mt) against the government’s estimate of 13.83 mt during the current season to June. The Union Ministry of Agriculture and Farmers Welfare’s third advance estimate for major crops had estimated the oil seeds output…
Consumers should stay themselves for difficult times ahead, as Indonesia- India’s major source of palm oil imports banned exports of all edible oil raw materials on Friday to ease domestic insufficiency. India imports as much as half of its demand of 8.3 mt palm oil from Indonesia. This is expected to shoot up prices in…
The Solvent Extractors Association of India (SEA) hopes that Sunflower oil imports may fall to 80,000 tonnes in April as against 212,000 tonnes in last month. “India had imported nearly 127,000 tonnes of sunflower oil from Ukraine, 73,500 tonnes from Russia and 11,900 tonnes from Argentina. These Consignments had left for India before the conflict…
government has set the ambitious target for more than three-fold increase in domestic palm oil production, from the current 3 lakh tonnes to 11 lakh tonnes by 2025-26, to reduce India’s high dependence on import of edible oil. To accelerate production and cultivation of oil palm in the country, the government will now put special…
