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Plantations

India's May palm oil imports hit multi-year low on higher import tax

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.

Plantations

India soybean area could jump 15% to beat higher costing palm oil

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.

Plantations

India's decade high import tax on edible oils may hit Malaysia

MUMBAI/NEW DELHI: India has raised import tax on edible oil to the highest level in more than a decade, the government said in an order, as the world's biggest importer of edible oils tries to support its farmers.

Business

India to allow direct foreign investment in palm oil plantations

NEW DELHI: India will allow foreign companies to directly invest in palm oil plantations, the government said on Tuesday, as Prime Minister Narendra Modi aims to cut imports of cheap vegetable oils and make the country self-sufficient this decade.

Commodities

Palm oil rally on El Nino bucks resource rout

KUALA LUMPUR: September was a rough month for commodities as China’s slowdown and excess supplies spurred losses in oil and industrial metal prices.

Business

India's soyoil imports seen down in 2014/15 on bumper oilseed crop-traders

NEW DELHI: India's soyoil imports are expected to drop in 2014/15, as the world's top importer is set to harvest a bumper soybean crop aided by a late surge in the monsoon rains, traders said on Friday.

Business

India's Aug vegoil imports hit record on soyoil surg

NEW DELHI: India's vegetable oil imports in August touched a record 1.3 million tonnes, a trade body said, helped by the highest ever soyoil imports on expectations of a poor soybean harvest

Business

India's May palm oil imports rise ahead of Ramadan

NEW DELHI: India's palm oil imports rose 22 percent to 654,255 tonnes in May from a month ago, data from the Solvent Extractors' Association of India showed, as buyers stocked up ahead of the Muslim holy month of Ramadan when demand typically peaks.

Business

India's palm oil imports ease, but seen up before Ramadan

NEW DELHI: India's palm oil imports are expected to rise in May, as stocks are increased ahead of Ramadan to meet demand for cooking oil during the Muslim holy month.

Commodities

India's palm oil imports up in March, snap two-month drop

NEW DELHI: India's palm oil imports rose 35 percent in March, snapping two straight months of declines as buyers built stocks after overseas purchases hit a near three-year low in February, data from the Solvent Extractors' Association showed on Tuesday.