Palm oil prices are expected to decline as production recovers and demand weakens. In 2024, palm oil futures surged 20% due to supply disruptions in Indonesia and Malaysia. However, inventories are set to rise as buyers shift to cheaper alternatives like soybean and sunflower oils. India’s palm oil imports could drop to a five-year low,…
Due to lower export estimates, Malaysian palm oil futures fell 1.5% to below MYR 4,150 per tonne for the second consecutive session. Shipments of Malaysian palm oil products fell between 18.2% and 23% from January 1 to 20, with unfavorable currency dynamics and reduced demand in India contributing to the pressure. Global policy uncertainties, including…
The 2024/25 US oilseed production forecast is 131.2 million tons, slightly higher due to higher cottonseed production. Soybean supply and usage projections remain stable, while soybean oil production rises due to a higher extraction rate. Export projections for soybean oil are raised by 500 million pounds, reaching 1.1 billion pounds, supported by strong export commitments….
The prediction for U.S. soybeans in 2023–2024 predicts lower ending stockpiles and slower exports as a result of weak shipments and intense competition with Brazil. In comparison to earlier projections, the soybean outlook for the 2023–2024 season in the United States points to a decline in soybean exports and a rise in ending stockpiles. In…
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…
To control the spike in future prices, the central government has extended concessional duties on edible oil imports by six months to March 31, 2023. At present, crude palm, soybean, and sunflower oils imports attract only the 5% agri infra cess and a 10% education cess upon it, meaning a total tax incidence of 5.5%. Basic…
The Central government is aiming at reducing import dependence on palm oil by 25 to 30% through the production of 2.8 million tonne (MT) of oil by 2030 under the National Edible Oil Mission. Currently, around 0.35 million hectare (MH) is under palm plantation. Under the mission launched last year, an additional area of 0.65…
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…
