Malaysia looks to Pakistan after Indian palm oil controls

[Goenitz]

India considers edible oil import tax cut to lower prices -sources

India is considering reducing import taxes on edible oils after cooking oil prices hit record highs last month, two government and two industry officials told Reuters, to reduce food costs in the world's biggest vegetable oil importer.

www.reuters.com

so Indian edible oil price hit 200 Rs/litre (from 100-120). Now, they are blaming on farmers as mustard (sarsoo) is a local production. Was that due to ban on Malasiyan palm oil?
Anyway, the govt is trying to lower tariffs on oil imports.
@HRK @Zapper @vishwambhar @Goku

 

[Indos]

Actually Indian palm oil import from Indonesia also decrease quite significant after the second Covid attack on India. I dont know whether it is due to some health issues restriction or India economy is going down that make their people consume less

 

[HRK]

India considers edible oil import tax cut to lower prices -sources

India is considering reducing import taxes on edible oils after cooking oil prices hit record highs last month, two government and two industry officials told Reuters, to reduce food costs in the world's biggest vegetable oil importer.

www.reuters.com

so Indian edible oil price hit 200 Rs/litre (from 100-120). Now, they are blaming on farmers as mustard (sarsoo) is a local production. Was that due to ban on Malasiyan palm oil?
Anyway, the govt is trying to lower tariffs on oil imports.
@HRK @Zapper @vishwambhar @Goku

We already harvest Mustard both in Punjab, Sindh and in some parts of KPK, and in Sindh we have planted Palm tress on wide scale.

Last year first time oil was extracted from trees planted earlier in Sindh so in short we might be able to support Malaysian Palm oil Industry in short and mid term but due to cultivation of Palm trees in Sindh and Olive trees in Punjab, KPK and AJK and some part of Balochistan we will reduce our import bill of edible oil .... and in 5-10 years time we might not have any need to import edible oils at all.

 

[Goenitz]

Actually Indian palm oil import from Indonesia also decrease

That is weird trend. I guess, it is a bad planning as they thought local sources would be enough. I think they had been hit by two storms adn that can be another reason. Or Simply it is a mafia, who is just hoardings. @jamahir @xeuss any onsight?

Mustard both in Punjab, Sindh and in some parts of KPK

Yeah.. that is as old as Waris Shah

due to cultivation of Palm trees in Sindh

That is extremely great. I didn't know about.

and Olive trees in Punjab, KPK and AJK and some part of Balochistan we will reduce our import bill of edible oil

Greta but we are little late. At least we can cover local consumption. I wish we can produce more corn oil and peanut oil. You know avocado kernel oil is 10£ per litre. I hope we start avocado production and its oil production. Similarly, apricot kernel oil from gilgit, however, I am not sure about its price. I think I tagged you in that discussion !!!

 

[HRK]

I think I tagged you in that discussion !!!

I have not received any notification recently, sometime this glitch occurs

You know avocado kernel oil is 10£ per litre

no its a news for me

I hope we start avocado production and its oil production.

Somewhere at this form or at some other social media site I remember reading about some individuals in Punjab who cultivated avocado on experimental basis last year or year before last year .... hope find success in this

 

[jamahir]

That is weird trend. I guess, it is a bad planning as they thought local sources would be enough. I think they had been hit by two storms adn that can be another reason. Or Simply it is a mafia, who is just hoardings. @jamahir @xeuss any onsight?

I didn't even know that India imports palm oil from Indonesia, heh heh.

Maybe @xeuss has more info.

 

[Indos]

I didn't even know that India imports palm oil from Indonesia, heh heh.

Maybe @xeuss has more info.

Indian imported CPO (Crude Palm Oil) from Indonesia, the processing using Indian refinery so it will be packed as Indian brand and products.

 

[xeuss]

India considers edible oil import tax cut to lower prices -sources

India is considering reducing import taxes on edible oils after cooking oil prices hit record highs last month, two government and two industry officials told Reuters, to reduce food costs in the world's biggest vegetable oil importer.

www.reuters.com

so Indian edible oil price hit 200 Rs/litre (from 100-120). Now, they are blaming on farmers as mustard (sarsoo) is a local production. Was that due to ban on Malasiyan palm oil?
Anyway, the govt is trying to lower tariffs on oil imports.
@HRK @Zapper @vishwambhar @Goku

See below from Indian Express:


The increase in domestic prices is basically a reflection of international prices, because India meets 56% of its domestic demand through imports. In the international market, prices of edible oils have jumped sharply in recent months due to various factors.

The price of crude palm oil (for the most actively-traded futures contract at the Bursa Malaysia derivatives exchange) was quoted at 3,890 ringgit per tonne on May 25, compared to 2,281 ringgit a year ago. At the Chicago Board of Trade (CBOT), the closing price of soyabean for July delivery was at $559.51 per tonne on May 24, as against $306.16 at this time last year. The prices of soyabean at CBOT and of Malaysian palm oil determine the prices Indian consumers pay for edible oil.

Explained: Why edible oils are costlier, and the way forward

The prices of six edible oils have risen sharply in the last one year. How much edible oil do Indians consume? What domestic and international factors have caused this price rise, and what is the way forward?

indianexpress.com

 

[Goenitz]

See below from Indian Express:

Thanx man.

 

[Zapper]

 

[vishwambhar]

India considers edible oil import tax cut to lower prices -sources

India is considering reducing import taxes on edible oils after cooking oil prices hit record highs last month, two government and two industry officials told Reuters, to reduce food costs in the world's biggest vegetable oil importer.

www.reuters.com

so Indian edible oil price hit 200 Rs/litre (from 100-120). Now, they are blaming on farmers as mustard (sarsoo) is a local production. Was that due to ban on Malasiyan palm oil?
Anyway, the govt is trying to lower tariffs on oil imports.
@HRK @Zapper @vishwambhar @Goku

I think this is due to the ban on Malaysian palm oil only....

Indian imported CPO (Crude Palm Oil) from Indonesia, the processing using Indian refinery so it will be packed as Indian brand and products.

I too heard this when Malaysia palm oil ban was being considered by govt that from Malaysia India gets processed, refined palm oil and from Indonesia we get crude palm oil which is later refined in India.... But don't know the reason for this....

 

[Indos]

I think this is due to the ban on Malaysian palm oil only....


I too heard this when Malaysia palm oil ban was being considered by govt that from Malaysia India gets processed, refined palm oil and from Indonesia we get crude palm oil which is later refined in India.... But don't know the reason for this....

Look like the refining industry in India make the price higher than importing the refined palm oil directly. I would say India still has some grudge with Malaysian as even for the refine palm oil they are going to buy in recent development come mostly from Indonesia. As far as I know, Malaysia previously dominated the refined market in India.

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India resumes refined palm oil imports after gap of a year: Traders
SECTIONS
India resumes refined palm oil imports ..




Indian buyers have resumed purchases of refined palm oil after a gap of a year as New Delhi removed restrictions on the imports and reduced import taxes last week, four industry officials told Reuters.

The renewed purchases come as India, the world's biggest buyer of palm oil, is trying to augment supplies to calm near-record local edible oil prices.

The purchases could help Indonesian and Malaysian refiners build market share in India and support benchmark Malaysian palm oil ..

Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

 

[vishwambhar]

Look like the refining industry in India make the price higher than importing the refined palm oil directly. I would say India still has some grudge with Malaysian as even for the refine palm oil they are going to buy in recent development come mostly from Indonesia. As far as I know, Malaysia previously dominated the refined market in India.

--------------------------------------------------


India resumes refined palm oil imports after gap of a year: Traders
SECTIONS
India resumes refined palm oil imports ..




Indian buyers have resumed purchases of refined palm oil after a gap of a year as New Delhi removed restrictions on the imports and reduced import taxes last week, four industry officials told Reuters.

The renewed purchases come as India, the world's biggest buyer of palm oil, is trying to augment supplies to calm near-record local edible oil prices.

The purchases could help Indonesian and Malaysian refiners build market share in India and support benchmark Malaysian palm oil ..

Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

Yes grudge will always be there against Malaysia as government as well as people in India didn't like Malaysia openly coming out against India over Kashmir..... even if it resumes I think Indonesia will now dominate the Indian market....