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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.
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...
India expects edible oil imports to fall for second consecutive year in 2020-21
Between November 2019 to October 2020, India imported 133 lak...
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.
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 notification said the basic customs duty (BCD) rate on crude palm oil has been revised to 27.5 per cent with effect from November 27. The BCD on crude palm oil is 37.5 per cent currently.
"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 palm oil imports set to jump as tax cut lures refiners
Higher imports by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil prices that hit their highest level in eight years this month, but could weigh on U.S. soyoil futures.
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.
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.
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.
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 slips for second day on weaker Dalian prices
Exports from Malaysia to the world's second-largest palm buyer China have picked up ahead of the week-long holiday for the Mid-Autumn festival, starting Oct. 1, according to cargo surveyor data.