Groundnut oil shoots up in Gujrat

Rallying under pressure from rising prices of other edible oils, groundnut oil prices in Gujrat have shot up by Rs 60-80 per 15-kg tin during the past one-month, forcing a worried state government to convene a meeting of oil-millers. From Rs 590 per tin on May 1, prices jumped to Rs 673 on June 6 before easing slightly to Rs 650 on Friday. Besides, groundnut oil prices have been influenced by the spurt in the international prices of other oils like palm oil, rapeseed, Soya and sunflower.

(Courtesy- The Economic Times)

Edible oil imports likely to touch record high in May

Edible oil imports are up again as the lean season approaches. Imports of refined and crude edible oils touch a new monthly high of the season in May ’02 at 4.7 lakh tonnes compared with 3.7 lakh tonnes for the same period last year.

(Courtesy- The Economic Times)

Govt. hikes palm oil duty

The centre has increased the price at which customs duty is imposed (tariff value) on palm oils by $48-51 a tonne, in line with the global spurt in rates of the commodity. The tariff value for crude palm oil (CPO) has been increased to $392 per tonne cost, insurance and freight (CIF) from $344 a tonne. For RBD palm oil, it has been increased to $414 a tonne from $365 per tonne and for RBD palmolein to $426 from $375 a tonne. The hiked value for crude palmolein is $411 a tonne, up from $362 a tonne.

(Courtesy- The Economic Times)

Edible oils sink

Edible oils continued to rule easy on the oil and oilseeds market due paucity of demand amidst normal supply. In the edible section, groundnut oil eased further by Rs 2 to Rs 443, while imported RBD palmolein moved in a narrow range and closed at the previous day’s closing levels of Rs 359.

(Courtesy- The Economic Times)

Edible oil prices zoom: Mustard, Soya jump 20%

Edible oil prices in the domestic market, with soaring international prices of palm group of oils and Soya oil, have zoomed up in June. The price escalation has been particularly sharp for mustard oil, ricebran oil and Soya oil during the last couple of weeks. In about just two weeks ended June 4, prices of this major cooking media spurted 17-20%. Mustard oil price jumped 17%; ricebran oil 20% and Soya oil 18%.

(Courtesy- The Economic Times)

Retail purchases lift groundnut oil price

A modest increase in groundnut oil prices provided the main feature of trading on the oil and oilseeds market. Following persistent enquiries from retailers and supported by lower-than-usual arrivals from producing centres. Groundnut oil looked up by Rs 6 to Rs 451.

(Courtesy- The Economic Times)

Palmolein bounces back

Imported palmolein bounced back on the oil and oilseeds market on fresh demand with higher Malaysian advice. Groundnut oil also edged up on mild demand. Elsewhere in futures market, castorseeds declined on lack of enquires.

(Courtesy- The Economic Times)

Safeguard duty on veg oil imports may be a reality

The director general (DG) has initiated an inquiry to determine whether and how much safeguard duty needs to be imposed on vegetable oil imports. The DG, following a complaint, has concluded that prima facie increased imports of vegetable oil of edible grade threaten to cause serious injury to the domestic producers of vegetable oil. Edible grade vegetable oil is imported into India mainly from Argentina, Australia, Brazil, Canada, East Europe, European Union, Indonesia, Malaysia and USA. The inquiry has been initiated following a complaint from the Solvent Extractors Association of India (SEAI) requesting imposition of safeguard duty on imports of this oil to protect domestic producers against injury due to increased imports of vegetable oil.

(Courtesy- The Economic Times)

Edible oils firm up

Both the edible and industrial oils advanced further on the oil and oilseeds market. Groundnut oil shot up further on better offtake. Imported RBD palmolein also looked up further on higher overseas advice. In Malaysia, palm oil futures recorded their highest levels in three years. The bench- mark third month August contract was up 13 ringgit to 1,390 ($365.79) a tonne after recording as high as 1,402 ringgit its highest level since May 30, ’99. In the edible section, groundnut oil looked by Rs 5 to Rs 424, while imported RBD palmolein strengthened further by Rs 8 to Rs 348 on modest demand.

(Courtesy- The Economic Times)

Edible oil gets cooling treatment

Forwards Market Commission will impose a mandatory margin payment requirement on the county’s largest edible oil exchange. The stipulation is designed to help punters who have sold cheaper by ensuring that the market doesn’t spike further.

(Courtesy- The Economic Times)

Soya oil prices surge over border tension

Prices of edible oils, particularly Soya, jumped $18 a tonne in the futures market and Rs 6 a kg in the wholesale market as an import-dependent industry appeared to become jittery over an impending war. India imports almost five million tonnes edible oil every year, out of which more than half is through ports on the west coast.

(Courtesy- The Economic Times)

Groundnut oil looks up further in market

Groundnut oil continued to rule higher for the second day in raow on the local oil and oilseeds market. The edible oil advanced further due to better enquiries from retailers. However, imported RBD palmolein lost support despite a laterally in Kuala Lumpur. In the edible section, groundnut oil improved further by Rs 3 to Rs 415 from the overnight closing level of Rs 412.

(Courtesy- The Economic Times)

Edible oils look up

A modest rise in prices of edible oils provided the main feature of trading on the oils and oilseeds market. Groundnut oil advanced up further on persistent demand from retailers. Imported RBD palmolein also improved following a rise in prices in Malaysian. In the edible section, groundnut oil was sought Rs 3 higher at Rs 408 from the last weekend level of Rs 405. Imported RBD palmolein rose by Rs 6 to Rs 325 from Rs 319 previously. In the non-edible section, castor oil commercial eased by Rs 5 to Rs 296. Ready castorseeds bold Madras dropped Rs 25 to Rs 1,330 from Rs 1,355.

(Courtesy- The Economic Times)

CWC to direct Nepali vanaspati imports

Central Warehousing Corporation (CWC) has been appointed the canalising agency for importing hydrogenated vegetable oil (vanaspati) from Nepal under the Indo-Nepal trade treaty. Imports have been officially notified to begin from May 16 this year. Imports over and above the canalized quota are also allowed but will be subjected to the customs duty of 30% and a special additional duty of 4%.

(Courtesy- The Economic Times)

Govt. hikes tariff value of imported palm oils

The government has increased the price at which import duty will be imposed on all grades of palm oils including crude palm oil (CPO) whose price has been hiked to $344 a tonne. The tariff value for RBD palmolein has been increased to $375 to $349 per tonne cost insurance and freight (C&F). In case of CPO it has been hiked to $344 from $314 a tonne C&F. The increase has been in the offing since some time owing to the rise in international prices of palm oils.

(Courtesy- The Economic Times)

Higher tariff value pushes palm oil prices up

A sharp increase in imported RBD palmolein prices provided the main feature of trading on the local oil and oilseeds market. Prices firmed up following hike in the tariff value by the Centre. Groundnut oil also improved on good demand from retailers. However, prices of industrial oils declined on lack of buying interest.

(Courtesy- The Economic Times)

Edible oils easy

Prices of imported palmolein and industrial oils declined on the oils and oilseeds markets on increased arrivals amidst poor offtake. In the edible section, imported RBD palmolein fell to Rs 310.50 from the previous close of Rs 311, whereas groundnut oil continued to move in a narrow range in restricted activity and held steady at the previous closing mark of Rs 400. In the non-edible section, castor oil commercial dropped Rs 3 to Rs 305 from the last close of Rs 308 on thin demand from soap manufacturers. Castorseed bold Madras declined By Rs 15 to Rs 1,375 from Rs 1,390 on lack of export enquiries. Copra white and linseed oil held steady at Rs 435 and 360 respectively.

(Courtesy- The Economic Times)

Edible oils quiet

A subdued tendency was noticed on the oil and oils market. Edible oils, groundnut and imported RBD palmolein remained under pressure on poor demand amidst normal supply. Among industrial oils, linseed oil hovered around at the previous level on thin demand from paint industries. Castor oil commercial also remained quiet on poor enquires from soap industries. IN the edible section, groundnut oil held unchanged at Rs. 400 per 10 kg. Imported RBD palmolein edged down by Rs. 2 to Rs. 311 from Rs. 313 previously.

(Courtesy- The Economic Times)

Vegetable oil imports post 27% decline in Nov-April

India’s dependence on imported edible oils is gradually going down, due to increased domestic supply following good kharif and rabi oilseeds production as well as appropriate custom duty structure. Total imports of vegetable oils for the first half of the season ended on April 30 have declined to 1.7m tonnes, down 27% from 2.3m tonnes recorded during the corresponding period of the last year. At this rate, total imports during the current season are unlikely to surpass 3.5m tonnes as against 4.8m tonnes last year and 4.5m tonnes in ‘99-00. Imports even in ‘98-99 were about 4.4m tonnes.

(Courtesy- The Economic Times)

Veg oil industry to upgrade tech, cut production cost

The domestic vegetable oil industry is looking forward to upgrade its technology to reduce the cost of production and be competitive in the liberalised market conditions. The vegetable oil industry is comprising of 1.25 lakh village ghanies, 15,000 oil mills, 600 solvent extraction plants, 400 refineries and about 200 vanaspati units, crushing and processing about 20-22m tonnes of oilseeds in the country and refining over 30 lakh tonnes of edible oils, said Solvent Extractors’ Association of India president Bipin Patel. “Many units suffer from technological obsolescence and are outdated and need modernisation,’’ he said. In today’s competitive global oil business scenario, the latest technology is available in India and abroad to reduce the cost of the processing and improve the quality of products to international standards.

The unsatisfactory technological standards of the industry coupled with the low capacity utilisation have added to the complexity of the problem. To make the industry aware of the latest technology available, the SEA is organising a seminar-cum-workshop in Mumbai on May 18, which is sponsored by the Technology Mission on Oilseeds and Pulses, Council of Scientific and Industrial Research and Oil Technologists’ Association of India.

(Courtesy- The Economic Times)

Edible oil imports likely to go up

India’s domestic edible oil prices were stable over the past few days on steady supplies and imports are likely grow in the months ahead following a seasonal fall in local stocks, traders said. B V Mehta of the Solvent Extractor’s Association of India said edible oil imports in April this year were expected to be around 325,000 tonnes, down from 400,000 tonnes in the same month last year.

India, with a population of more than a billion, imports nearly half of its oil requirements, buying palm oils from Malaysia and Indonesia and soy oil from Argentina, Brazil and the United States. Traders said imports could rise to 450,000 tonnes in May and cross 500,000 tonnes in June, July and August mainly because local supplies will dry up. But traders said the total imports in 2001/02 (November-October) will be lower than the previous year because of a better oilseeds crop, higher global prices and weakening of the rupee against the dollar.

(Courtesy- The Economic Times)

Govt retains tariff values for imported palm oil

Belying hopes of a flaccid market, the government has decided to make no changes in the tariff values fixed for imported palm oil as there is no significant variation in international prices. Consequently, importers will continue to pay customs duties based on the tariff values fixed in December last.

(Courtsey: The Hindu)

Shortfall in seed supply will boost oil imports, say traders

A seasonal fall in oilseed supplies in India, the world’s largest edible oil buyer, will boost imports of oils, traders said. Arrivals of rapeseed, the main summer oilseed crop, have fallen to about 3.3 lakh bags (of 85 kg each) from four lakh bags two weeks ago, resulting in a drop in oil supply, they said. India mainly imports palm oils from Malaysia and Indonesia and soybean oil from Argentina, Brazil and United States. Local prices of oilseeds, including groundnut, have also firmed with a fall in supply.

(Courtsey: The Economic Times)

Veg oil prices rise, demand continues to exceed supply

Prices of major vegetable oils rose over the week to Friday as demand continued to overshoot supply, traders said. Although a few shipments of imported edible oils arrived in the past week, supplies still aren’t meeting requirements.

(Courtsey: The Economic Times)

Cashing in on castor

The castor market has shown a broad-based gain as castor seed and castor oil prices set a 18 months high while June castor futures traded at Ahmedabad Commodity Exchange (ACE) hit a high of Rs 1,445 a quintal. Castor crop in the current kharif year has been estimated around 4.50-4.75 lakh tonnes. Carry forward stock is estimated at around 2-2.5 lakh tonnes, making total availability at 7-7.5 lakh tonnes seeds or 2.8-3.0 lakh tonnes of castor oil. Domestic demand for the castor oil is estimated at 50,000-60,000 tonnes. The market had expected that arrivals in the castor market would pick up once normalcy returns in the riot-hit state. However, it has not picked up. Castor seed arrivals at various market yards in north Gujrat are reported at 20,000 bags of 75 kg each.

(Courtsey: The Economic Times)

Good future for coconut oil

Upbeat trend prevailed in the coconut oil market with prices climbing above the Rs 4,000 per quintal mark in the beginning of April as against Rs 2,900 per quintal during the same period of the previous year. Market analysts now caution that if prices go beyond this level there might be a negative impact on the demand front. Major players are getting a reasonably good price in the market as compared to last year, experts pointed out. Futures market shows that the prices for May-June period are around RS 4,150 per quintal. The improvement in prices that the market witnessed throughout the season this year shows another important aspect of the market.

(Courtsey: The Economic Times)

Edible oils mixed

A firm to steady tendency was noticed on the oil and oilseeds market. Castor oil commercial and its seeds firmed up further due to renewed demand. Imported palmolein also extended gains on better demand, while groundnut oil moved in a narrow range and closed at the previous days closing mark. In the edible section, imported RBD palmolein was traded a rupee higher at Rs 301 against the last close of Rs 300. Groundnut oil remained quiet and closed at the overnight level of Rs 395 per 10 kg. In the non-edible section, castorseed bold Madras improved further by Rs 5 to Rs 1,365, while castor oil commercial was traded a rupee higher at Rs 303. In the futures section, castorseed June delivery contract resumed at Rs 1,425 and firmed up further to close at Rs 1,464 on fresh enquires from exporters.

(Courtsey: The Economic Times)

Edible oils firm

Castorseed and its oil improved further on the local oils and oilseeds market on fresh enquiries from soap manufacturers. Imported palmolein also extended gains. However, groundnut oil slipped due to lack of demand. Imported RBD palmolein rose to Rs 295 from the last close of Rs 294. Groundnut oil lost a rupee at Rs 393. Castor oil commercial looked up by a rupee at Rs 282 and castorseed bold Madras rose further by Rs 5 to Rs 1,260 against the last close of Rs 1,255. Copra white and linseed oil remained quiet at Rs 400 and the Rs 340 respectively on narrow movements.

(Courtsey: The Economic Times)

Government hikes MSP for grains, oilseeds

Government increased the minimum support price (MSP) for wheat by Rs 10 per quintal to Rs 620 from Rs 610 for the marketing season ‘02-03. Government also raised the MSP for various other agricultural commodities, including grams, rapeseed/mustard and sunflower. MSP for grams has been increased to Rs 1,200 per quintal from the existing level of Rs 1,100 for the same period. For rapeseed/mustard, sunflower and masoor (pulse) the MSP has been fixed at Rs 1,300 a quintal, up from Rs 1,200. The government also increased the issue price of wheat for exports to Rs 4310 per tonne from Rs 4250 per tonne and that of raw rice to Rs 5760 from Rs 5650 per tonne. In case of par-boiled rice for export, the issue price from the central pool has been hiked to Rs 6115 per tonne from Rs 6000 per tonne.

(Courtsey: The Economic Times)

Edible oils skid

A marginal fall in edible oil prices provided the main feature of trading on the local oil and oilseeds market. Groundnut oil dropped a rupee to close at Rs 396 per 10 kg, while imported RBD palmolein lost Rs 2 to end at Rs 298 on paucity of demand.

(Courtsey: The Economic Times)

Edible oils mixed

Imported palmolein continued to rule firm on the local oil and oilseeds market, while groundnut oil moved in a narrow range and closed steady. In the edible section, imported RBD palmolein was sought Rs 2 higher at Rs 300 from the last close of Rs 298. Groundnut oil opened at the last weekend level of Rs 397 and closed at the same level. In the non-edible section, castor oil commercial rose to Rs 274 from the last closing level of Rs 270 on fresh demand from soap manufacturers. Castorseed bold Madras also ruled higher at Rs 1220, up Rs 20 against the previous level of Rs 1200.

(Courtsey: The Economic Times)

Edible oil imports fall 33% as local supplies flood market

Country’s edible oil imports registered a dip of 33% in the first four months of the oil year starting November ’01 from the same period a year earlier due to increased local supplies. Edible oil imports fell to 1.1m tonnes from 11.6m tonnes. Traders said the slowdown in country’s edible oil imports is expected to continue with forecast of a good summer oilseed crop. Traders estimate the country’s summer oilseed output at around 7.5 to eight million tonnes compared with 6.2m tonnes a year ago helped by better rains.

(Courtsey: The Economic Times)

Groundnut oil gains

Prices of groundnut oil and imported palmolein showed a firm trend on the local oils and oilseeds market due to fresh demand amidst normal supply. Groundnut oil was sought Rs 3 higher at Rs 393 against the weekend level of Rs 390. Imported RBD palmolein rose by Rs 4 to close at Rs 290.

(courtsey: The Economic Times)

Groundnut oil skids

A subdued trend continued to previal on the oils and oilseeds market following increased offerings from stockists. The poor demand from consumers also dampened the sentiment. In the edible section, groundnut oil fell to Rs 390 against he last close of Rs 391. Imported RBD palmolein moved in a narrow range and closed at the previous level of Rs 283. Soya oil refined and crude closed lower at Rs 290 and Rs 264 respectively. Castor oil commercial and castorseed bold Madras delivery remained unaltered at Rs 263 and Rs 1,165 respectively. In the futures section, castorseed April delivery contract opened at Rs 1,286, but declined further at the fag-end due to thin demand and closed lower at Rs 1,263 against the last close of Rs 1,285.

(courtsey: The Economic Times)

Castor oil gains

Edible and non-edible oils moved in opposite directions on the local oils and oilseeds market. Castor oil and its seeds improved further on good demand, while groundnut oil eased further on increased offerings from stockists. In the edible section, groundnut oil slipped further to Rs.391 from the last close of Rs. 393.

(courtsey: The Economic Times)

Edible oils gain (Dated - 19-02-02)

In the edible section, groundnut oil prices was sought Rs 6 higher at Rs. 396 over the weekend close of Rs. 390. Imported RBD palmolein rose to Rs.285 against the last closing level of Rs.281. Castorseed bold Madras improved by Rs. 5 to close at 1,100, while castor oil commercial slipped by a rupee at Rs.250.

(courtsey: The Economic Times)

Edible oil prices shoot up

Edible oil prices shoot up by 3 to 9% today thanks to government decision to monitor its import by restricting the entry points to a few select ports only.

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A firm trend in edible oils (Dated: 5-5-2001)

A firm trend in edible oils provided the main feature of trading on the local oils and oils and oilseeds market today.

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Steady trend of groundnut oil

Steady trend of groundnut oil was quoted at Rs.370 per 10 kg. Soyabean crude and soyabean refined were also down by Rs.3 and Rs.2 to Rs.197 and Rs.233 per 10 kg. Cotton refined and sunflower solvent refined shed Rs.5 and Rs.2 to Rs.255 and Rs.263 per 10 kg. Castorseeds opened at Rs. 1402 a quintal against its previous level of Rs. 1387.

Decline in groundnut oil prices

On the oils and oilseeds market the groundnut oil decline further. Groundnut oil price dropped to Rs.370 against its earlier level of Rs.375 per 10 kg.

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International castor oil moved up

Groundnut oil prices decline by Rs.5 at Rs.375 per 10 kg. In imported oils RBD palmolein dropped by Re.1 at Rs.220 per 10 kg. In supplementary section cotton refined dropped by Rs.2 to Rs. 260 while sunflower solvent refined moved up by Re.1 at Rs.263 per 10 kg. International castor oil October contract moved up by Re.1 to Rs.326 per 10 kg. Sunflower and rapeseed crude eased by Rs.2 and Re.1 to Rs.230 and Rs.221 per 10 kg.

Cotton and sunflower solvent refined moved up

Here both cotton and sunflower solvent refined moved up by Rs.3 each to Rs. 265 per 10 kg respectively.

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Stable groundnut oil prices

Groundnut oil remained unchanged at Rs.380 per 10 kg. It maintained a steady trend on oils and oilseeds market here on Friday on weak demand supported by restricted arrivals.

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Palmoil export war out to gain Indian imports

The world’s two largest palm oil producers and exporters, Malaysia and Indonesia, an export tax war between these countries set to intensify soon which could sharply boost Indian edible oil imports and put pressure on its govt. to raise import duties yet again.

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Edible oil import hits due to duty hike

Industry officials said that an edible oil import by India has slowed down considerably in the first nine months of the oil year because of a hike in duties.

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Mixed trends of edible oils

Due to lack of demand in the oils and oilseeds market, groundnut oil price eased further.

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BOOE : launches edible oil futures trading

India has become one of the world’s leading RBD palmolein importers in recent years because of a slump in local oilseeds production, rising demand and depressed international prices.

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Further rise in vegetable oil duties :Govt.

India has turned into one of the world’s leading vegetable oil importers in recent years because of a slump in local production, strong domestic demand and depressed world prices.

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Price of groundnut oil eased

The national market sources reported that the groundnut oils price eased by Rs.2 to 400 per 10 kg on thin demand and increased offerings.

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Malaysian palm oil geared up as duty-free export allowed

Traders from Malaysia said that palm oil futures closed higher on Monday, boosted by news that in current season Malaysia may allow local companies to export crude palm oil (CPO) duty free.

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Raw imports : only hope for oil extraction units

The solvent extraction industry may show an increase in its capacity utilisation and revival of sick units if imports of oilcakes or oil-bearing materials become a regular feature, as sources said.

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Steady market trends : Edible oils

Wholesale oil and oilseed market shows overall steady trends for groundnut oil. It remains steady at Rs.405 per 10 kg on weak demand supported by restricted arrivals.

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Subdued to steady trends of edible oils

In the oils and oilseeds market a subdued-to-steady trend was noticed on wholesale market.

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Andhra faces slump in coconut prices

A bumper crop in Andhra Pradesh has resulted in a slump in prices of coconut and copra this season.

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Coconut products hit hard by a price crash: Kerala

Kerala market sources say coconut production this season shot up beyond all expectations, creating a problem of plenty.

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Edible oils eased

The oils and oilseeds market showed a declined trend for groundnut oil marginally due to lack of fresh demand. Price of groundnut oil eased by Rs.2 to Rs. 408 against previous level of Rs. 412 per 10kg.

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A harp fall in coconut oil prices

Coconut oil prices have registered a sharp fall in the past few weeks much to the dismay of the coconut growers.

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Better prices expects to boost castor crop in ‘00-01

India is the world’s largest producer of castorseed and meets most of the global demand for castor oil.

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Edible oils :Mixed trends

The oils and oilseeds market shows mixed trends, groundnut oil maintained a steady trend due to weak demand and ends the day at previous level of Rs. 410 per 10 kg.

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Divergent trends of edible oils

On Monday a divergent trend prevailed on the oils and oilseeds market. Groundnut oil and cotton refined held steady, while sunflower solvent refined declined due to lack of demand.

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Edible oil : mixed trends

Due to good demand and restricted arrivals from producing centres, edible oil market shows firm trends. The oil improved by Rs. 6 to 412 per 10 kg whereas groundnut oil price showed a firm trend.

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Soyameal export expects to lower down in next quarter

Country's soyameal exports are expected to slow sown in the next quarter. The bumper crop from US will put tremendous pressure on the prices of soyabean and its derivatives world over, as industry sources feel.

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Edible oil: steady trends

Local oil and oilseeds market reported that a firm trend was noticed, groundnut oil was dearer by Re 1 at Rs 406 per 10 kg on good demand.

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Subdued edible oil trends

On weak oil market demand, subdued trend was witnessed on the oils and oilseeds on Monday. Groundnut oil price held steady at Rs. 405 per 10 kg.

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Duty eased : leads edible oil import

A senior industry official opined, as the government eased import duties on edible oil, edible oils traders are considering ricebran and oilcakes imports from Vietnam, Malayasia, Indonesia and the Philippines.

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Changing trends of edible oil

Dealers from Mumbai market reported that the restricted arrivals of groundnut oil coupled with thin demand kept the prices at the same level.

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Oilseeds output down in '99-00

According to the final estimates for the current year the total oilseeds production has declined by 16 % to 21.18m tonnes in ‘99-00 against 25.21m tonnes in the previous year.

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Declined edible oil trends

As reported from national market source a mixed trend was noticed on the oils and oilseeds market.

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Market position of edible oils

A steady market trend for groundnut oil was observed on the local oils and oilseeds market on thin demand supported by restricted arrivals.

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Vanaspati prices sours up

The compulsory use of 25% of domestic edible oils in the production of vanaspati has harden Vanaspati prices.

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Market trends of edible oils

In National market changing oil trends are noticed on Friday.Groundnut oil moved up by Rs. 3 to Rs. 410 per 10 kg .

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Farmers awaiting a rise in edible oil customs duty

Farmers are holding back stocks of rapeseed and mustard, a govt. decision on which they feel would bolster prices, trades said on.

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Indian duty hike affects Malaysia palm oil market

Malaysian palm oil ends at the low level in the four months and lost futures.

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Duty hike : No effect on veg. oil import

According to officials the govt.’s long awaited move to raise import duties on vegetable oils has fallen short of market expectations and is unlikely to derail imports, traders and industry.

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Increase in import duty on edible oil

The Centre has increased the duty on refined oils to curb surging imports of edible oil.

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WPI Oils trends

Liberalization has benefited the Indian oil consumer, though the beleaguered domestic edible oils industry is clamoring for protection.

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VAT on Soyameal imports delayed

The decision taken by China’s State Taxation Commission to scrap a 13 % value-added tax (VAT) on Soyameal will be postponed until June 15 and will be implemented later on.

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Increase import duty on edible oils from 40 to100%

As the cheap edible oil imports had badly hit the domestic trade hence a. leading industry urged the Union govt. to raise the import duty on refined edible oils to 100% from 27.5.

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Price fall in coconut oils

Import has been liberalized and vegetable oils will be imported in large quantities. So there is a sharp fall in the price of coconut oil saw leading players in the field levelling charges and counter charges on either side.

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Oil trading network starts in June

Bombay oil seeds and oil exchange is going to begin future trading which will deal with 3 items, viz., and groundnut oil palmolein and sunflower oil.

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China : India’s soyameal buyer

India has started soyameal export to big buyer China, thereby leading to an increase in domestic prices.

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Decline in Rapeseed production

India’s rapeseed production in 99-00 will decline due to the ongoing drought in the main growing regions like Rajasthan and Gujarat states.

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Edible oil market

In the domestic oil market, edible oil prices remained subdued. Groundnut and mustard mill delivery oils here fell by Rs.10/20 a quintal.

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Malaysian palm oil goes down

Traders said Malaysian palm oil futures closed lower on Thursday, 25 May, 2000 after the release of more data showing continuing slack export demand.

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Marico "Saffola" blended oil

Marico India launched blended oil under the "Saffola" brand. A blend of kardi oil and corn oil, it is perhaps the first blended oil to have corn oil as one of the ingredients.

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Drop in prices of edible oils

Palmoelin ruled lower in Mumbai oils and oilseeds market and was offered at Rs.2,100. The tax paid palmolein was quoted at Rs2,360 a quintal.

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Edible oil edges up

National market sources reported that mill-delivery oils recovered on tight supply from Rajastan, Haryana and Madhya Pradesh. Soyabean and cottonseed oils edged up by Rs. 10/50/quintal.

Oilseeds and Edible oils prices goes down

Prices of new red sesameseed in West Bengal and new sunflower seed in Punjab and Haryana mandies were Rs 800-850 a quintal.

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Oilseeds production affected by import policy

The Govt. of India’s import policy on edible oils has drastically affected oilseeds production in the country, and many oil mills are on the verge of closure. There was a shortage of 11 lakh tonnes of edible oil in the country.

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Crash in coconut oil prices

Coconut oil prices have crashed to its lowest level in the current year despite copra procurement. By March 2001, coconut oil and copra will become freely importable and price realisations for farmers will depend on global price trends.

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Rapseed oil production

As there is plenty stock of rap seed oil, at present there is no scarcity of rapseed in the market and no increase in demand in sight.

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Import of Edible oil may increase: for ‘99-00’

Flooding of markets with cheap edible oils hit the oil seed growers in the country.

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Market trends of Malaysian Palm oil

India was the biggest buyer of Malaysian palm oil during the period, taking 53,900 tonnes, followed by Egypt, which bought 38,200 tonnes. European United countries bought 61,581 tonnes.

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Demand for lowering duty on imported oilseeds, oilcakes

In order to improve availability of raw material and capacity utilisation, the Indian oil extraction industry asked the commerce ministry to lower the duty on imported oilseeds and oilcakes.

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Custom duties on edible oil imports

Demand of increasing custom duty on imported edible oils from the oil industry, the Indian government raised the customs duty on imported edible oils a few days before the Union budget was presented.

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Fall in edible oilseeds output

 Output of oilseeds fell to 215.40 lakh tones while during last year it was about 252 lakh tonnes, according to the ministry of agriculture.

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Edible oil improves 

Groundnut, mustard, soyabean and cottonseed mill delivery oils, in edible section, improved by Rs. 20/50 a quintal on support from vanaspati and refining mills coupled with restricted supply from the producing areas.

Palm Oil exports

 Malaysian palm oil exports for April were at 671,652 tonnes compared with 837,611 tonnes in March, cargo surveyorSociete Generale de Surveillance Malaysia Sdn Bhd (SGS) said.

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A slash in export prices of Palmolein

Malaysia further slashed export prices of Palmolein by $7 to $330 tonne to push up export to India, consequently, palmolein in Mumbai fell to Rs. 2,050 a quintal.

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Market trends :Edible oils

Supply of domestic oils in the edible section remained negligible because of higher import of cheap palmolein. Palmolein in Malaysia was quoted at $347 a tonne, as a result, in Mumbai it was quoted at Rs 2,150 and here tax paid palmolein was quoted at Rs 2,400 a quintal. However, mustard, soyabean and cottonseed oils improved by Rs 20/50 a quintal due to restricted inflow from the millers. Coconut oil Pariwar brand also improved by Rs 10 a tin.

Import of edible oil

The Solvent Extractors’ Association of India (SEA)reported that ,country’s edible oil imports rose to 1,261,781 tonnes in the first four months of ‘99-00(November –October ) from 988,770 tonnes in the previous year. The market sources also reported that import of edible oil in February rose to 289,649 tonnes from 196,784 tonnes.

Support prices of copra remains stagnant

Government has taken a decision that there is no increase in support prices for copra.

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Import of one million tonnes of soyabean oilseeds

India has decided to allow import of one million tonnes of soyabean to meet the rising demand in a move seen by the industry as a step towards freeing oilseeds trade. A formal notification to this effect will be given afterwards . There is a shortage of oil and oilcakes in the market. Therefore the decision was taken.

India to import 4 lakh bales of cotton

India's cotton imports are set to reach a record in the current reason to September, after the Cotton Advisory board (CAB) warned that the country's crop would fall to 14.8m bales of 170 kg each, compared with an earlier estimate of 16.9m bales.

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Market Trend of Groundnut:A Important Oilseed

Undaunted by the aflatoxin infection, India has managed to retain its dominant position in the south –east Asian groundnut markets with a total export of 1.20 lakh tonnes in ‘99-00.

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Market trend of Castoroil

Castorseeds June contract and castor oil international June contract remained officially closed on account of Good Friday. Castorseed oil commercial and FSG qualities looked up by Re 1 each to Rs. 415 and Rs. 427 per 10 kg, respectively.

In oilseeds, castorseeds improved further by Rs.5 at Rs.1,925 a quintal on improved industrial interest.

Import of Vanaspati from Nepal

The Indian Vanaspati Producers Association (IVPA) state as the renewal of the treaty by the Indian government has seen a massive rise in imports of vanaspati from Nepal.

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Import policy and oil seed production

The government’s decision to continue with the oilseeds production programme (OPP) with a total outlay of Rs 760 crore during the remaining two years of the 9^th plan (`97-02) is unlikely to encourage farmers to increase acreage under the oilseeds, if the prevailing policy of flooding the country with imported edible oils is any indication.

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Palm oil

Trade and local buying lifted Malaysian palm oil futures off their lows by the close on Tuesday after overnight losses in Chicago soya oil futures and technical selling had weighed on prices.

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Less demand for edible oils

As stated in market review there is less demand for oils in market, the prices of edible oil remained stable as last week price level, except coconut oil. Due to less import of coconut oil, the price has been increased by Rs 10-15/ per can. Price for palm oil remained stable at Rs. 390-400.