Latest news with #IVPA
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Business Standard
6 hours ago
- Business
- Business Standard
Indian importers ramping up oil purchases ahead of festival season: IVPA
Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides "a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. The organised sector will not have any issue in implementing it unlike the unorganised sector. "Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. Edible oil imports declined by nearly one lakh tonnes over the past six months but are expected to recover in the next six months. "Overall edible oil imports would be more or less the same as last year," he said. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is "very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. "Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. "It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline.
Time of India
7 hours ago
- Business
- Time of India
Indian importers ramp up palm oil purchases ahead of festival season
Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides "a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Leadership Management Degree CXO PGDM Data Science Healthcare Design Thinking MBA healthcare Finance MCA Operations Management Data Science others Product Management Artificial Intelligence Others Digital Marketing Cybersecurity Data Analytics Public Policy Technology Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After 35 Years, Her Jewelry Is Nearly Gone The Heritage Journal Read More Undo The organised sector will not have any issue in implementing it unlike the unorganised sector. "Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. Live Events With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. Edible oil imports declined by nearly one lakh tonnes over the past six months but are expected to recover in the next six months. "Overall edible oil imports would be more or less the same as last year," he said. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is "very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. "Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. "It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline.
News18
7 hours ago
- Business
- News18
Indian importers ramp up palm oil purchases ahead of festival season
New Delhi, Jul 31 (PTI) Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides 'a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. The organised sector will not have any issue in implementing it unlike the unorganised sector. 'Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is 'very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. 'Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. 'It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline. PTI LUX DRR view comments First Published: July 31, 2025, 12:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
6 days ago
- Business
- Business Standard
Indian vegetable oil body demands review of Nepal imports, packaging rules
The Indian Vegetable Oil Producers Association (IVPA) on Friday called on the government to review duty-free imports of refined oils from Nepal and reinstate standardised packaging for edible oils, saying current policies hurt domestic processors. The demands came at the end of a two-day global roundtable marking IVPA's 50th anniversary, where the industry body highlighted concerns over Nepal's exports flooding northern and northeastern Indian markets. "This not only undercuts domestic processors and refiners but also suppresses farmgate prices for oilseeds and contributes to underutilisation of processing capacities," IVPA said in a statement. The association proposed channelling zero-duty imports through government agencies like the National Agricultural Cooperative Marketing Federation of India (Nafed) and other state agencies as a potential solution. IVPA also urged the government to reintroduce standard packaging sizes for edible oils, saying the current variety of pack options creates consumer confusion over pricing. On market outlook, IVPA said palm oil prices remained consolidated around current levels, with discounts to soybean oil likely to persist. It predicted Indian mustard price rallies would cool as the government releases stocks. Globally, sunflower oil prices may ease as Black Sea region crops return to normal levels, the association said. IVPA President Sudhakar Desai led the event discussions. The association emphasised that given increasing global biofuel mandates, India should pursue higher domestic oilseed production through incentivised minimum support prices.
Time of India
6 days ago
- Business
- Time of India
Malaysia's palm oil share in India up 35%; festive demand to increase share: Palm Oil Council
New Delhi: Malaysia's share of palm oil in India increased 35 per cent in the first half of 2025 on the back of strong demand, the Malaysian Palm Oil Council ( MPOC ) said at an industry event late Thursday. Palm oil is a key ingredient for FMCG companies and used extensively for baked goods, snacks, personal care products and cosmetics. Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics Design Thinking others healthcare Leadership Public Policy Digital Marketing Technology Healthcare Artificial Intelligence PGDM Management Project Management Cybersecurity MBA Data Science Finance Data Science Product Management Others MCA Degree Operations Management CXO Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details The MPOC said it supplies 2.5 million MT of palm oil to India annually at an Indian Vegetable Oil Producers' Association (IVPA) global roundtable. 'Our monthly exports have rebounded to 2,50,000 MT in May and June 2025 after a brief slowdown following the October 2024 peak. We anticipate this positive trend will persist into the third quarter, driven by price competitiveness, and festive restocking ahead of Diwali', Belvinder Sron, chief executive officer of MPOC, said in a statement. 'Over the past five years, Malaysia's crude palm oil exports to India have averaged 2.5 million MT annually. Our market share in India has grown from 30% in 2023 to 35% in the first half of 2025 and we expect this upward trajectory to continue through the end of the year,' Sron said. Live Events The MPOC has formalised a collaboration with the vegetable oil producers' association for nutritional and sustainability credentials of Malaysian palm oil, the association said in the statement. As the world's second largest palm oil producer—with a 24% share of global production and an output of 19.34 million MT—Malaysia remains a consistent supplier to India. 'After a July 2025 import duty adjustment, Malaysian crude palm oil is now the most competitively priced edible oil in the Indian market, according to the statement. The entities also announced a collaboration with IVPA for joint advocacy on regulatory issues and a consumer education campaign focused on industry outreach.
