Monday, 23 May, 2022
TopicPalm oil

Topic: Palm oil

India’s patchy monsoon is turning out to be good news for palm traders abroad

Pratik Parija -
Concerns are growing that deficient monsoon rains this year could hurt crops, raise food prices, threaten a nascent economic recovery and boost imports of farm goods.

To make India ‘atmanirbhar’ on palm oil, Modi govt approves separate National Mission

Samyak Pandey -
National Mission on Edible Oils-Oil Palm proposes to cover an additional area of 6.5 lakh hectares (lha) under oil palm cultivation by 2025-26, and another 6.7 lha by 2029-30. 

Liberal palm oil import rules will harm self-sufficiency, say farmers & traders, seek review

Samyak Pandey -
As edible oil prices hit record highs, govt reduced duty on crude palm oil to 10% from 15%. To further cool down prices, licence-free import of palm oil products was allowed till 31 Dec.

Forget petrol & diesel, prices of edible oils have soared even higher in June, July

Samyak Pandey -
Edible oils have seen a sharp rise in prices in last 6 months despite govt efforts to cool off rates by reducing high tax levies. June fuel inflation was 12.68%, while edible oil inflation was at 34.78%.

Centre cuts import duty on crude palm oil to 10% to lower retail edible oil prices

PTI -
The effective duty, which includes cess and other charges, on crude palm oil will be 30.25% while for refined palm oil it would be 41.25% from Wednesday.

How palm oil became the world’s most hated and most used fat source

Jonathan E. Robins -
Palm oil is in everything — from cosmetics to food. Today there are enough oil palm plantations worldwide to cover an area larger than Kansas.

Consumer demand drop in lockdown could cut palm oil prices, Vanaspati & soap costs may fall

Samyak Pandey -
Palm oil is a major ingredient in restaurants and packaged foods, sectors that have taken a hit in the lockdowns induced by the second Covid-19 wave.  

Modi govt cuts import duty on palm oil to support consumers

Pratik Parija -
The duty on crude palm oil has been lowered to 27.5% from 37.5%. The lower tax is expected to further boost inbound shipments and support benchmark prices of the commodity.

Malaysian palm oil exports to India seen hitting new record low

Anuradha Raghu -
Malaysia exported just 10,806 tons of palm oil to India in March which is 97% lower than last year and the lowest monthly total since the year 2000.

$1.4 billion of palm oil is caught in CAA, Kashmir crossfire between India and Malaysia

Anuradha Raghu -
If India’s imports from Malaysia drop, about 2 million tons of Malaysian processed palm oil products worth $1.4 billion may need new buyers.
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2 American Super Hornets in India as Boeing looks to showcase fighters for Navy deal

Snehesh Alex Philip -
Navy looking at about 26 multi-role deck-based fighters for its aircraft carrier. Visit by Super Hornets comes close on heels of similar trip by competitor Rafale M of Dassault Aviation.

National Interest

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

Shekhar Gupta -
That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.

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