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India imported 13.3 mln tonnes of edible oil in 2020-21

NEW DELHI: India imported 13.35 million tonnes of edible oil, a little more than half of its total consumption, in its fiscal year 2020-21, according to government data. Its domestic production of edible oils for the April-March fiscal year totalled 12.47 million tonnes and consumption was 25.82 million tonnes, the Ministry of Agriculture said on […]

India imports 275,915 tonnes of Malaysian palm oil in June

By Shakir Husain NEW DELHI: India imported 275,915 tonnes of palm oil from Malaysia in June, according to the latest data from an industry group. The country’s total edible oil imports last month were 969,431 tonnes, with palm oil’s share being 61 per cent, the Mumbai-based Solvent Extractors’ Association of India (SEA) said. Overall edible […]

RM50 mln spent on palm oil R&D projects in Sarawak

KUCHING: The Malaysian Palm Oil Board (MPOB) has spent approximately RM50 million on various research and development (R&D) projects in Sarawak. Deputy Minister of Plantation Industries and Commodities Datuk Willie Mongin said the R&D projects were implemented to enhance the development of the palm oil industry in the state. He revealed that the implementation of […]

Sarawak has 1.59 million hectares of oil palm plantations

KUCHING: Sarawak has a large acreage of oil palm plantations which is expected to contribute significantly to the state’s socio-economic progress in the future, said Datuk Willie Mongin. The Deputy Minister of Plantation Industries and Commodities revealed that Sarawak had 1.59 million hectares of oil palm plantations or 27.3 percent of the overall 5.87million hectares […]

India’s new agro tax to remove ‘palm oil advantage’

NEW DELHI: A new agriculture tax introduced by the Indian government will remove the “undue advantage” enjoyed by palm oil in the local market, according to an industry group. India had reduced the import duty on crude palm oil (CPO) from 27.5 per cent to 15 per cent, effective Feb 2, 2021 in its Budget […]

India imports over 500,000 tonnes of palm oil from Malaysia in January

NEW DELHI: India imported more than 500,000 tonnes of palm oil from Malaysia in January out of its overall edible oil imports of about 1.07 million tonnes. The imports from Malaysia comprised 497,337 tonnes of crude palm oil (CPO), 9,204 tonnes of crude palm kernel oil and 2,701 tonnes of RBD palm olein, according to […]

Malaysian CPO stocks up 9.76 pct in January

KUALA LUMPUR: The Malaysian crude palm oil (CPO) stocks rose 9.76 per cent to 640,781 tonnes in January 2021 from 583,811 tonnes in December 2020, according to the Malaysian Palm Oil Board (MPOB). The processed palm oil stocks, however, only grew by 0.34 per cent month-on-month (m-o-m) to 684,182 tonnes from 681,887 tonnes previously, MPOB […]

Palm oil exports breached RM72 bln in 2020

KUALA LUMPUR: The Malaysian palm oil industry has generated about RM72.8 billion through the export of palm oil and its products to the international market in 2020, the Ministry of Plantation Industries and Commodities (MPIC) said. Its Minister, Datuk Dr Mohd Khairuddin Aman Razali said this amount was much higher (about 14.18 per cent higher) […]

Palm oil, palm export value to surpass RM70 bln

KUALA LUMPUR: The total export value of Malaysian palm oil and palm products for 2020 is expected to surpass RM70 billion, compared with RM67.5 billion recorded in 2019. This is an admirable achievement by the sector, considering the various challenges it had to face throughout the year, said Plantation Industries and Commodities Minister Datuk Mohd […]

Plantation players rejoice over higher palm oil price amid pandemic-hit year

KUALA LUMPUR: The majority of plantation players have recorded stellar net profit in 2020 while some companies have substantially trimmed their losses, thanks to the higher palm oil price amid a pandemic-hit year. Plantation experts expected the momentum to continue in 2021 especially since the country’s palm oil inventory stood at a 40-month low of […]