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…
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…
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…
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…
With effect for the 2023–24 fiscal year, the Union Commerce Ministry has discontinued duty-free imports of soyabean oil under the tariff rate quota (TRQ) regime. Sunflower oil imports, however, will continue to be duty-free under the TRQ system. According to the notification, imports of soyabean oil are still permitted under the TRQ till June 30….
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…
The cost of importing edible oil into the nation increased by 118 percent from the 2019–20 oil season to the 2021–22 oil season (November–October). According to information provided by the Solvent Extractors’ Association of India (SEA), the value of imported edible oil increased by 34% from the season of 2020–21 to 2021–22, reaching $1.56 lakh…
