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.
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.
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
The government is also planning to cut imports of oil and steel products from Turkey.
Edible oil industry body demands cap on import of refined palm oil to protect local refiners, farmers
Last week, the government had imposed restrictions on imports of refined palm oil and palmolein in the backdrop of remarks by Malaysia on the new citizenship law and Kashmir issue.
India resumes buying Malaysian palm oil as Kuala Lumpur offers discount over supplies from rival Indonesia, say traders
Malaysian palm oil is available at a $5 discount amid congestion at Indonesian ports, said a Mumbai-based dealer with a global trading firm.
Malaysia looks to increase imports from India after threat of palm oil curbs, says ready for talks to reduce trade deficit
Malaysia is the world’s second-largest producer and exporter of palm oil after Indonesia, and the edible oil contributed to 2.8% of its gross domestic product last year.
India's palm oil imports likely to jump to record high in 2018-19 as prices witness sharp decline: Report
Malaysian palm oil futures fell to 2,038 ringgit ($499.82) a tonne on Friday, the lowest in three months, due to weak demand and ample supplies.
Weak rupee will further curb palm oil imports, says trade body; duty hike in March and tighter credit hurt industry
The rupee has fallen about 4 percent since the start of April due to a broadly firmer US dollar and rising oil prices.