PALM OIL
Vegetable oil imports slip 2% to 11.02 lakh ton in November on lower refined palm oil shipments
"Import of vegetable oils during November 2020 is reported at 11,02,899 tonnes compared to 11,27,220 tonnes for November 2019," Solvent Extractors' Association of India (SEA) said in a statement.
Chinese demand pushes up prices of palm oil
While a shortage in global oilseed production has been a major reason for prices of edible oil to...
Government cuts import duty on crude palm oil to 27.5 pc effective November 27
The Central Board of Indirect Taxes and Customs (CBIC) in a no...
Palm oil prices to remain elevated in near term; La Nina in focus: ICRA
A release issued by ICRA said that the global prices of palm oil have risen sharply by 50% from the lows of May 2020, with pick-up in demand emanating from re-opening of economies.
India expects edible oil imports to fall for second consecutive year in 2020-21
Between November 2019 to October 2020, India imported 133 lakh tonnes of edible oil against 149 lakh tonnes in the previous year. In the import basket, palm oil accounts for the largest share.
India trims palm oil purchases as rising prices make soyoil attractive
Lower overseas purchases by the world's biggest edible oil importer could cap palm prices, which hit an eight-year high on Friday, but will support U.S. soyoil futures trading near their highest level in four years.
"Edible oil prices likely to stay firm till January, say trade analysts"
The government is cautious about reducing import duties to check the inflationary trend in edible oils at a time when many domestic farmers are sowing mustard crops even as a part of the liquidity pumped into the economy by various governments during the pandemic has gone into commodities, industry insiders said.
India's September palm oil imports slump 27% on tepid demand: trade body
The south Asian country is the world's biggest importer of edible oils, and lower purchases of palm oil could weigh on Malaysian palm oil prices. Higher soyoil imports could support U.S. soyoil prices.
Palm oil hits two-week low in longest losing streak since June
Malaysia's opposition leader Anwar Ibrahim said on Wednesday he has secured a "formidable" majority from lawmakers to oust the Prime Minister, heralding a fresh bout of political drama that could hurt market sentiment in the world's no. 2 palm producer.
Palm oil extends losses on weak Dalian, crude prices, rising output woes
Palm has already declined 5.5% so far this week, as possible lockdowns in some European states dragged global markets.
Palm oil rises for fifth day on higher Dalian oils, strong exports
Exports of Malaysian palm oil products for Sept. 1-20 rose 9.4% to 1,035,041 tonnes from the month before, cargo surveyor Intertek Testing Services said on Sunday.
Crude palm oil becomes India's largest traded farm contract
According to data sourced from the Multi Commodity Exchange’s (MCX) website, the average daily turnover in the crude palm oil contract was Rs 273.60 crore. The daily volume averaged 39,068 tonnes, or over 5 per cent of the country’s monthly imports.
Palm oil inches up on expectations of higher Sept 1-15 exports
Palm oil may break a resistance at 2,910 ringgit per tonne and rise toward a range of 2,946-3,003 ringgit, Reuters technical analyst Wang Tao said.
India's palm oil imports fall 14% in Aug: SEA
The fall in imports of RBD Palmolein is helping the domestic industry to utilise the higher capacity, it said in a statement.
Palm oil set for first weekly drop in three
Malaysia's palm oil exports for Sept. 1-10 rose between 10% and 25.6% from the month before, cargo surveyors said on Thursday.
