Monday, 23 May, 2022
TopicPalm oil

Topic: Palm oil

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

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

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

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

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

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

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

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

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

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

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.

On Camera

YourTurn

Golden Temple

What Akal Takht must know about harmonium and music before banishing it from Golden Temple

In an era where India’s past and ‘purity’ are constantly being dug up and debated, the humble harmonium has become the latest victim.

World’s $300 trillion in debt. Here’s what it means for services like health, education

To meet debt payments, at least 100 countries will have to reduce spending on essential services, the IMF estimates.

Defence

Boeing's F/A-18 Super Hornet pulls off its first successful launch from a ski-jump at Naval Air Station Patuxent River, US | Photo credit: Boeing

2 American Super Hornets in India as Boeing looks to showcase fighters for Navy deal

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.

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

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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