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MUMBAI: Indian refiners have stopped buying Malaysian palm oil for shipments in November and December fearing New Delhi could raise import taxes or enforce other measures to curtail imports from Kuala Lumpur, five traders told Reuters on Monday.
KUALA LUMPUR: Malaysian palm oil futures reversed earlier gains to fall at the close of trade on Friday, tracking related edible oils on China's Dalian Commodity Exchange which erased some gains.
NEW DELHI: Crude palm oil (CPO) prices dropped for a second day as the market was pressured by lower soybean oil prices as well as the European Union’s publication of limits on the use of the tropical oil in biofuels that will start next month.
KUALA LUMPUR: Malaysian palm stocks are expected to hover around 3 million tonnes for the rest of the year, as improved yields from good weather and new plantings come into fruition this year and exports remain flat, say industry players, whose estimates range between 2.7-3.4 million tonnes.
KUALA LUMPUR: Malaysian palm oil futures rose in early trade on Monday on cargo surveyor data showing stronger March exports, before paring gains to close the morning session little changed amid concerns about higher production.
KUALA LUMPUR: World palm oil demand may suffer its first contraction in two decades during the 2019/20 crop year due to rising domestic oilseed supplies in top buyer India and slowing demand in Europe and China, industry participants told Reuters.
MUMBAI: India has cut import taxes on crude and refined palm oil from Southeast Asian (ASEAN) countries after a request from suppliers, a government notification said.
MUMBAI: India's palm oil imports in June plunged 41 percent from a year earlier to their lowest in nearly 4-1/2 years, a leading trade body said on Monday, as a higher import tax on the tropical oil made it more expensive
MUMBAI: India's palm oil imports in May plunged 38 percent from a year earlier to their lowest in nearly 4-1/2 years as higher import tax on the tropical oil made it more expensive, a trade body said on Thursday. India buys palm oil from Indonesia and Malaysia; and soyoil mainly from Argentina and Brazil, while it purchases sunflower oil from Ukraine.
MUMBAI: Indian farmers are likely to expand soybean planting areas by nearly 15 percent after the government raised edible oil import tax to the highest level in more than a decade, lifting domestic oilseed prices to nearly two-year highs, a trade body said.