REFINED PALMOLEIN
India's April palm oil imports jump 34 pc on lower global prices
India's palm oil imports rose 34.11% to 6,84,000 tonnes in April, led by lower global prices. Vegetable oil imports, including RBD palmolein and CPO, surged. Soybean and sunflower oil prices also fell, driving higher imports.
India's January palm oil imports hit 3-month low as soyoil shipments rise -dealers
India's palm oil imports fell to a three-month low in January as refiners increased buying of rival soyoil due to negative refining margins for crude palm oil (CPO). Lower purchases by India, the world's biggest importer of vegetable oils, could keep palm oil inventories elevated in top producers Indonesia and Malaysia and weigh on benchmark futures. January palm oil imports fell 12% to 787,000 metric tons, with crude palm oil imports falling 16% to 541,000 tons. Soyoil imports in January jumped 24% to 190,000 tons, but were far below the monthly average imports seen in the last marketing year.
India sees 25% fall in vegetable oils import in Nov: SEA
India's vegetable oil imports fell by 25% to 11.60 lakh tonnes in November 2023, compared to 15.45 lakh tonnes in the previous year, according to industry body SEA. The country's crude vegetable oils declined by 26.34% to 9.77 lakh tonnes, while refined vegetable oils imports fell by 15.41% to 1,71,069 tonnes.
Edible oil industry body SEA urges government to hike duty difference between crude & refined palm oil
The SEA President said that India's imports of vegetable oils reached an all-time high of 167.1 lakh tonnes during the recently concluded 2022-23 oil year (November-October), with edible oils shipments hitting a record high of 164.7 lakh tonnes.
India's H1 vegetable oil imports up 21pc; rising refined palm oil shipments cause of concern: SEA
The palm oil refining industry in the country is heavily suffering from very low capacity utilization due to excessive import of RBD palmolein, thus getting transformed into mere packers, it said in a statement. To address this problem, SEA said the duty difference between crude palm oil (CPO) and refined palm oil needs to be increased from the current 7.5 per cent to at least 15 per cent, by imposing an additional 7.5 per cent agriculture cess on RBD Palmolein.
Edible oil import rises 8 pc to 11.35 lakh tonnes in March
India's palm refining industry is heavily suffering from very low capacity utilisation due to excessive import of RBD Palmolein and getting transformed into mere packers, it added. "The duty difference between CPO (crude palm oil) and Refined Palmolein/Palm Oil needs to be increased from the current 7.5 per cent to at least 15 per cent...," the association said.
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Edible oil imports in Jan 2nd highest; record shipments of cooking oils in Nov-Jan
The total import of vegetable oils during the first three months of the oil year 2022-23 (November-October) rose 30 per cent to 47,73,419 tonnes compared to 36,71,161 tonnes in the same period last year.
Edible oil imports in Jan 2nd highest; record shipments of cooking oils in Nov-Jan
The total import of vegetable oils during the first three months of the oil year 2022-23 (November-October) rose 30 per cent to 47,73,419 tonnes compared to 36,71,161 tonnes in the same period last year
Vegetable oils import rises 28% in Dec to 15.66 lakh tonnes; shipments of palm oil surge
During November-December 2022, the import of vegetable oils increased by 30 per cent to 31,11,669 tonnes compared to 24,00,433 tonnes in the corresponding period of the previous year. The imports of refined palmolein and CPO (crude palm oil) increased sharply during November-December 2022. The data showed that 4,58,646 tonnes of refined oils (all of its RBD palmolein) were imported during November-December 2022 compared to 82,267 tonnes in the year-ago period.
Govt extends free import of tur, urad, refined palm oil
In a separate notification, the DGFT also extended till further notice, the free import of refined bleached deodorised palm oil and palmolein from the extant deadline of December 31, 2022. However, the directorate has retained the restriction that the imports of these refined oils will not be allowed through any port in Kerala.
India raises base import price of palm oil, gold
The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used to calculate the amount of tax an importer needs to pay. India is the world's biggest importer of edible oils and silver and the second-biggest consumer of gold.
India's refined palm oil imports jump 2.7 times in last 11 months
The country had imported 6.28 lakh tonne of refined palm oil (RBD palmolein) in the year-ago period. The oil year runs from November to October, it said. India, the world's leading vegetable oil buyer, imported 130.1 lakh tonne of vegetable oils during the November-September period of the ongoing 2021-22 oil year, 4 per cent higher than the year-ago period.
India cuts base import price of palm oil; raises soyoil price
The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used to calculate the amount of tax an importer needs to pay. India, the world's biggest edible oils importer, last week allowed duty free imports 2 million tonnes of soyoil.
India wakes up to yet another inflation risk as pressure builds on FMCG margins
In the latest development to pose upside risks to India’s inflation, Indonesia announced a ban on exports of palm oil on Friday in order to ensure adequate supplies in the country.
FMCGs may pinch more if Indonesia bans crude palm oil exports too
About 60% of India's palm oil demand is met through imports, of which Indonesia and Malaysia account for a little more than three-fourths of total imports.
Effective import duty on crude palm oil cut to 5.5% to cool edible oil prices
The effective import duty on crude palm oil will now come down to 5.5 per cent, from 8.25 per cent, after taking into account agri development cess and social welfare cess.
SEA wants Centre to restrict import of refined palm oils to save local refining industry
In December 2021, the government reduced import duty on RBD palmolein and RBD palm oils by 5.5 per cent to check prices of edible oils in the domestic market.
Government slashes import duty on refined palm oil to 12.5% to cool retail prices
On Monday late evening, the Central Board of Indirect Taxes and Customs (CBIC) issued a notification which "seeks to reduce BCD on refined palm oil and its fractions from 17.5 per cent to 12.5 per cent till March 31, 2022". The new rate is effective from Tuesday.
Govt allows free import of RBD palm oil, palmolein till Dec 31, 2021
As per Solvent Extractors' Association of India, the country’s edible oil imports remained almost flat at 131.3 lakh tonne during the 2020-21 marketing year ending October, but in value terms, they rose 63% to Rs 1.17 lakh crore.
Average retail prices of edible oils rise up to 52 pc in July: Govt
As per the data shared by the minister, the average monthly retail prices of groundnut oil increased by 19.24 per cent in July over the same month last year.
India makes refined palm oil freely importable to bring down consumer prices; industry calls it a death knell for local refiners
According to the Solvent Extractors Association (SEA), the reduction in import duty on crude palm oil is around $55/60 per tonnes or Rs 4600/to 5000 per tonne. However, this drop has been negated by the rise in Palm oil prices on Wednesday in Malaysia and Indonesia by about $40/45 per tonne.
Government cuts import duty on crude palm oil to 10%
Currently, customs duty on crude palm oil is 15 per cent, while it is 45 per cent for all other categories of palmolein (RBD Palm Oil, RBD Palmolein, RBD Palm Stearin and any Palm Oil other than Crude 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.
Industry seeks easier refined palm oil imports to cut prices during lockdown
During the lockdown, prices of edible oil have risen by 10%.
India allots import licences for 1.1 mn tonnes of refined palmolein from Indonesia: Sources
India put refined palm oil and palmolein on the list of restricted items on Jan. 8, a move sources said was retaliation against top supplier Malaysia after its criticism of actions in Kashmir and CAA. The move prompted traders to seek permission from DGFT to import refined palmolein, and the commerce ministry's wing received more than 100 applications for licences.
Palm oil imports fall over 8% in Dec: SEA
The world's leading vegetable oil buyer, had imported 8,11,700 tonne palm oils in December 2018.
Palm oil prices surge 40% in a year
Palm oil consumption is 40 per cent of the 23 million tonne consumption in the country.
Malaysian palmolein floods Indian markets
India consumes around 23 million tonnes of vegetable oils every year.
Refined palmolein advances on persistent demand
Meanwhile, groundnut oil and linseeds oil prices ruled stable in absence of any worthwhile buying activity.
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