Palm Oil

Palm Oil News

Edible oil prices down by Rs 15 to 25 per litre, record rise in procurement of oilseeds
Business

Edible oil prices down by Rs 15 to 25 per litre, record rise in procurement of oilseeds

The retail prices of packed mustard oil which were above Rs 200 per litre in March 2022 are now around Rs 184 per litre

Indonesia to lift palm oil export ban on 23 May, says president Joko Widodo
World

Indonesia to lift palm oil export ban on 23 May, says president Joko Widodo

The archipelago nation issued the ban last month to secure supplies of the commodity, used in a range of goods from chocolate spreads to cosmetics, in the face of a domestic shortage

India's edible oil problem: Oilseeds, instead of palm oil, key to decrease import dependency
India

India's edible oil problem: Oilseeds, instead of palm oil, key to decrease import dependency

With an average requirement of 300 litres of water per tree per day, oil palm plantations are heavy water guzzlers, that result in a huge loss of natural habitat, biodiversity and wildlife

Riddled with environmental concerns, India's palm oil supply chain needs to look at sustainable options
India

Riddled with environmental concerns, India's palm oil supply chain needs to look at sustainable options

Over 90 percent of the palm oil imported by India comes from Malaysia and Indonesia where environmental concerns associated with the production are routinely highlighted. Indian companies are making efforts towards a sustainable supply chain of palm oil.

Increasing agricultural demands by rich countries increases deforestation in tropics
science

Increasing agricultural demands by rich countries increases deforestation in tropics

Each person in G7 nations accounts for, on average, the loss of four trees somewhere else in the world per year.

World Environment Day: Data shows the world has lost a Switzerland-size area of primary rainforest in 2019
World

World Environment Day: Data shows the world has lost a Switzerland-size area of primary rainforest in 2019

In order to stop deforestation, researchers say emphasis must be placed on changing the incentives driving forest loss on a domestic, local level.

Malaysia to strengthen trade ties with India after palm oil purchases resume after gap of four months
Business

Malaysia to strengthen trade ties with India after palm oil purchases resume after gap of four months

Malaysia voiced its commitment to further strengthen diplomatic and trade ties with India, after the world’s largest edible oil buyer renewed purchases of Malaysian palm oil, in a sign of improving relations between the two countries

India resumes purchases of Malaysian palm oil after four-month gap following diplomatic row
Business

India resumes purchases of Malaysian palm oil after four-month gap following diplomatic row

Indian buyers have resumed purchases of Malaysian palm oil after a four-month gap following a diplomatic row, with buying spurred by a fall in domestic inventories and discounted prices, trade sources said

Malaysia signs record rice import deal with India after rival suppliers restrict exports; shipment may rise this year
Business

Malaysia signs record rice import deal with India after rival suppliers restrict exports; shipment may rise this year

India is now offering white rice for around $390-$400 per tonne compared with more than $450 for other countries, exporters said.

Govt suspends 39 import licenses for refined palmolein after surge in duty-free imports in Nepal, Bangladesh: Report
Business

Govt suspends 39 import licenses for refined palmolein after surge in duty-free imports in Nepal, Bangladesh: Report

India, the world’s biggest importer of edible oil, put refined palm oil and palmolein on a list of restricted items on 8 January, although New Delhi later issued licences to import more than 1.1 million tonnes of refined palmolein.

Malaysia says relations with India to improve after New Delhi lifts import duty on palm oil; to send a delegation
Business

Malaysia says relations with India to improve after New Delhi lifts import duty on palm oil; to send a delegation

India has been the biggest buyer of Malaysian palm oil for five years, but imports trickled to a halt after it restricted imports of refined palm and informally asked traders to avoid Malaysian palm.

Malaysia's sugar purchases from India hit record amid diplomatic spat; shipment to help reduce stockpiles
Business

Malaysia's sugar purchases from India hit record amid diplomatic spat; shipment to help reduce stockpiles

The record-buying could also help India, the world’s biggest producer of sugar, to cut stockpiles that are squeezing domestic prices.

Malaysia aims to resolve palm oil trade dispute with India within a month; to send a delegation soon to improve ties
Business

Malaysia aims to resolve palm oil trade dispute with India within a month; to send a delegation soon to improve ties

After India’s January curbs on imports of refined palm oil from Malaysia, traders had also held off on buying its crude palm oil.

Political rhetoric alone not enough to reignite Malaysian palm oil exports to India, say traders
Business

Political rhetoric alone not enough to reignite Malaysian palm oil exports to India, say traders

The ousting of Malaysia’s former prime minister Mahathir Mohamad, whose criticisms of India’s policies in Kashmir damaged palm oil trade between the nations, has kindled hopes among Malaysian exporters for a rapid restoration of ties

Govt issues import licences for 1.1 mn tonnes of refined palmolein from Indonesia; DGFT move draws commerce ministry’s flak
Business

Govt issues import licences for 1.1 mn tonnes of refined palmolein from Indonesia; DGFT move draws commerce ministry’s flak

A resumption in refined palmolein buying by India, the world’s biggest palm oil importer, could lift its total palm oil imports and support Malaysian palm oil futures.

Malaysia says  palm oil dispute with India 'temporary', to be resolved amicably between two nations
Business

Malaysia says palm oil dispute with India 'temporary', to be resolved amicably between two nations

The second biggest buyer of Malaysian palm oil, China, bought just 2.4 million tonnes last year, while the third largest buyer was Pakistan with 1.08 million tonnes, according to data from the Malaysian Palm Oil Council.

Palm oil prices to climb 17.9% in 2020 on tight supplies, biodiesel programmes; trade disputes to hit exports: Poll
Business

Palm oil prices to climb 17.9% in 2020 on tight supplies, biodiesel programmes; trade disputes to hit exports: Poll

Benchmark palm oil prices will average 2,650 ringgit ($650.80) a tonne in 2020, up from 2,248 ringgit last year, according to the median estimate from a poll of 18 analysts and industry players.

Malaysia's Mahathir Mohamad rules out retaliatory trade action over Indian palm oil boycott
Business

Malaysia's Mahathir Mohamad rules out retaliatory trade action over Indian palm oil boycott

India this month effectively halted palm oil imports from its largest supplier and the world’s second-biggest producer in response to comments from Mahathir attacking India’s domestic policies.

Palm oil imports dip over 8% to 7.41 lakh tonnes in December: Solvent Extractors Association
Business

Palm oil imports dip over 8% to 7.41 lakh tonnes in December: Solvent Extractors Association

India's import of palm oils declined by 8.64 percent to 7,41,490 tonnes in December 2019, Industry body Solvent Extractors Association (SEA) said on Thursday

Kashmir row: India plans to cut some imports from Turkey; likely to widen curbs on more products from Malaysia
Business

Kashmir row: India plans to cut some imports from Turkey; likely to widen curbs on more products from Malaysia

The government is also planning to cut imports of oil and steel products from Turkey.