India’s palm oil imports hit 27-month low, buyers pick cheaper soft oils: Dealers

India’s palm oil imports hit 27-month low, buyers pick cheaper soft oils: Dealers

India‘s palm oil imports sank to a 27-month low in May as buyers cancelled expensive cargoes of the edible oil and replaced them with cheaper soyoil and sunflower oil, six dealers told Reuters on Tuesday. Palm oil imports by India fell to 441,000 tonnes last month, down 14% from 510,094 tonnes in April, according to … Read more

India’s refined palm oil imports jump 2.7 times in last 11 months

India’s refined palm oil imports jump 2.7 times in last 11 months

India saw more than two-and-a-half times increase in import of refined palm oil at 17.12 lakh tonne in the last 11 months due to lower prices in Indonesia, industry body SEA said on Thursday. The country had imported 6.28 lakh tonne of refined palm oil (RBD palmolein) in the year-ago period. The oil year runs … Read more

India’s May palm oil imports on track despite Indonesia’s curbs – trade

India’s May palm oil imports on track despite Indonesia’s curbs – trade

India’s palm oil imports in May are set to rise above 600,000 tonnes despite the restriction imposed by Indonesia on exports as most of the contracted quantity will be loaded before Jakarta’s ban becomes effective, traders told Reuters. The world’s biggest palm oil exporter plans from Thursday to stop shipments of refined, bleached and deodorized … Read more

Government cuts import duty on crude palm oil to 10%

Government cuts import duty on crude palm oil to 10%

The government on Tuesday reduced basic customs duty on crude palm oil to 10 per cent, which will help bring down the edible oil prices in the retail market. The Central Board of Indirect Taxes and Customs (CBIC) in a notification cut the basic customs duty on crude palm oil to 10 per cent and … Read more

Cotton industry is trying to poach farmers to increase acreage as farmers may opt for edible oils due to record prices

Cotton industry is trying to poach farmers to increase acreage as farmers may opt for edible oils due to record prices

A rally in both cooking oil prices, including soybeans and cotton, to a 11-year high has worried cotton traders that acreage for cotton could fall as farmers choose the smaller crop cycles of oilseeds and pulses. However, production cost of soyabean is less as farmers use their own seeds. Besides, pesticide and labour costs are … Read more

Poultry prices up by more than 50% in a year as animal feed drives up costs

Poultry prices up by more than 50% in a year as animal feed drives up costs

A sharp increase in soya meal cost has driven up poultry prices by more than 50% over the past one year. While the price of the key ingredient in poultry feed has increased 82% in a year, the jump has been sharper in the past one month, when it has risen 28%. Poultry has become … Read more