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Time of India
02-07-2025
- Business
- Time of India
India's June palm oil imports jump 61% to hit 11-month high
India's palm oil imports soared to an 11-month high in June, driven by lower domestic inventories and a price discount to rivals soyoil and sunflower oil that encouraged refiners to ramp up purchases, according to five dealers. Higher palm oil imports by India, the world's biggest buyer of vegetable oils, will help bring down stocks in top producers Indonesia and Malaysia and support benchmark Malaysian palm oil futures. Palm oil imports in June surged 61% month-on-month to 953,000 metric tons, the highest since July 2024, according to estimates from dealers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo "Palm oil has been regaining lost market share since last month. It is now nearly $100 per ton cheaper than competing oils," said Sandeep Bajoria, CEO of Sunvin Group , a vegetable oil brokerage. India imported, on average, 475,699 tons of palm oil each month during the first seven months of the current marketing year ending October 2025, according to the Solvent Extractors' Association of India, which is set to publish its June import data by mid-July. Live Events In the last marketing year, India imported an average of more than 750,000 tons of palm oil each month. Soyoil imports in June fell 9% month-on-month to 363,000 tons, while sunflower oil imports rose 18% to 216,000 tons, dealers estimated. Higher imports of palm oil and sunflower oil lifted India's total edible oil imports in June by 30% from the month before to 1.53 million tons, the highest since November, according to dealers' estimates. Palm oil imports are expected to remain robust in the coming months as its prices are attractive amid a pickup in production in key producing countries, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. India buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine. Nepal's edible oil imports were 75,000 tons in June, down from 155,000 tons in May, GGN Research estimated.
Economic Times
27-06-2025
- Business
- Economic Times
Edible oil prices fall as Israel-Iran ceasefire holds, port delays reduce
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads With the Israel-Iran ceasefire holding up and cargo congestion at Kandla Port improving, prices of edible oils have started declining. Prices of imported palm oil have fallen by $30 per tonne to $1,060 per tonne, soya oil by $20 per tonne to $1,150 per tonne, and sunflower oil by $10 per tonne to $1,200 per tonne in the past three days, said industry executives.'Prices had gone up after tension escalated between Iran and Israel. Additionally, the congestion at Kandla Port had further pushed up prices, as the domestic edible oil industry feared a shortage of imported oil. But the situation has eased now and prices have started falling,' said Sandeep Bajoria, CEO of Sunvin Group, a Mumbai-based oil trading company.'Prices have fallen by ₹3 per kg in the last two days for all categories of oil. There is no dearth of edible oil now. Prices are under pressure. For consumers, prices may fall by 2–3%,' said Pradeep Chowdhary, Managing Director of Gemini Edibles and also buys palm oil from Indonesia and Malaysia, he said, adding, 'Since tension escalated between Iran and Israel, exports of palm oil from Indonesia and Malaysia have taken a beating. Therefore, there is now sufficient palm oil in the two Southeast Asian nations. Automatically, that will put pressure on prices of palm oil, which is largely used by the hotel, restaurant and catering sector.'Congestion at Kandla Port has reduced to five to six days from 15 to 20 days earlier.'Two vessels are on berth, four vessels have arrived and are waiting for berth, and 12 vessels are expected between June 27 and July 10,' said Sudhakar Desai, CEO of Emami Agrotech and President of the Indian Vegetable Oil Producers' palm oil comes from Malaysia and Indonesia, India imports soya oil and sunflower oil from Argentina, Brazil, Russia and edible oil imports fell for the sixth consecutive month in May by 22.36% year-on-year to 1.19 million tonnes, according to data released by the Solvent Extractors' Association of India (SEA).As per SEA data, palm oil imports declined 22.32% to about 592,000 tonnes in May from about 763,000 tonnes a year ago. Soybean oil imports fell 23% to about 398,000 tonnes, while sunflower oil imports plunged 55.30% to about 183,000 share of palm oil has decreased to 42% from 58% in the past seven months of the current oil year, which began in November 2024, while that of soft oils such as sunflower and soybean oils has increased to 57% from 42%.
Time of India
27-06-2025
- Business
- Time of India
Edible oil prices fall as Israel-Iran ceasefire holds, port delays reduce
With the Israel-Iran ceasefire holding up and cargo congestion at Kandla Port improving, prices of edible oils have started declining. Prices of imported palm oil have fallen by $30 per tonne to $1,060 per tonne, soya oil by $20 per tonne to $1,150 per tonne, and sunflower oil by $10 per tonne to $1,200 per tonne in the past three days, said industry executives. 'Prices had gone up after tension escalated between Iran and Israel. Additionally, the congestion at Kandla Port had further pushed up prices, as the domestic edible oil industry feared a shortage of imported oil. But the situation has eased now and prices have started falling,' said Sandeep Bajoria, CEO of Sunvin Group, a Mumbai-based oil trading company. 'Prices have fallen by ₹3 per kg in the last two days for all categories of oil. There is no dearth of edible oil now. Prices are under pressure. For consumers, prices may fall by 2–3%,' said Pradeep Chowdhary, Managing Director of Gemini Edibles and Fats. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Rajasthan Mosquito Crisis Solved by Strange New Device (See How) Mosquito Eliminator Read More Undo Iran also buys palm oil from Indonesia and Malaysia, he said, adding, 'Since tension escalated between Iran and Israel, exports of palm oil from Indonesia and Malaysia have taken a beating. Therefore, there is now sufficient palm oil in the two Southeast Asian nations. Automatically, that will put pressure on prices of palm oil, which is largely used by the hotel, restaurant and catering sector.' Congestion at Kandla Port has reduced to five to six days from 15 to 20 days earlier. Live Events 'Two vessels are on berth, four vessels have arrived and are waiting for berth, and 12 vessels are expected between June 27 and July 10,' said Sudhakar Desai, CEO of Emami Agrotech and President of the Indian Vegetable Oil Producers' Association. While palm oil comes from Malaysia and Indonesia, India imports soya oil and sunflower oil from Argentina, Brazil, Russia and Ukraine. India's edible oil imports fell for the sixth consecutive month in May by 22.36% year-on-year to 1.19 million tonnes, according to data released by the Solvent Extractors' Association of India (SEA). As per SEA data, palm oil imports declined 22.32% to about 592,000 tonnes in May from about 763,000 tonnes a year ago. Soybean oil imports fell 23% to about 398,000 tonnes, while sunflower oil imports plunged 55.30% to about 183,000 tonnes. The share of palm oil has decreased to 42% from 58% in the past seven months of the current oil year, which began in November 2024, while that of soft oils such as sunflower and soybean oils has increased to 57% from 42%.
Business Recorder
18-06-2025
- Business
- Business Recorder
Indian refiners cancel palm oil orders for July-Sept as prices surge
MUMBAI: Indian refiners cancelled orders for 65,000 metric tons of crude palm oil (CPO) scheduled for delivery from July to September following a sudden surge in benchmark Malaysian prices, four trade sources told Reuters. Refiners in the world's largest palm oil importer cancelled the orders in the past three days after Malaysian palm oil futures rose more than 6%, hedging their risk against the prospect of falling prices by locking in a profit. 'There is a lot of volatility in the market. There was more margin in cancelling bought CPO than in importing, refining, and selling refined palm oil in the local market,' said an Indian buyer who operates a refinery on the west coast and cancelled shipments for July delivery. Indian buyers made CPO purchases nearly a month ago around $1,000 to $1,030 per ton, including cost, insurance, and freight, after a rebound in palm oil production brought down prices to their lowest in more than eight months. This week, palm oil futures jumped, tracking a rally in Chicago soyoil futures after the U.S. proposed higher biofuel blending volumes. Palm rises tracking rival soyoil, weaker ringgit The sudden rise prompted Indian refiners to cancel contracts at between $1,050 and $1,065 per ton, making a profit of more than $30 per ton, said the sources who spoke on condition of anonymity because they were not authorised to speak to media. Buyers agreed to contract cancellations by accepting a price slightly lower than the current market rate, a decision mutually reached with sellers, said a New Delhi-based dealer with a global trading house. The CPO is being offered at about $1,070 a ton in India for July delivery, compared to $1,020 to $1,030 a month ago. Despite the cancellations, Indian imports are poised to rise in coming months after falling far below average in recent months, bringing down inventories, said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage. India's palm oil imports hit a six-month high in May, driven by low inventories and the oil's price discount to rival soyoil and sunflower oil. Indian buying had gained momentum after India last month halved the import duty on CPO, but the cancellations have disrupted that momentum, said a Kuala Lumpur-based trader with a palm oil producing company.
Yahoo
18-06-2025
- Business
- Yahoo
Exclusive-Indian refiners cancel palm oil orders for July-Sept as prices surge
By Rajendra Jadhav MUMBAI (Reuters) -Indian refiners cancelled orders for 65,000 metric tons of crude palm oil (CPO) scheduled for delivery from July to September following a sudden surge in benchmark Malaysian prices, four trade sources told Reuters. Refiners in the world's largest palm oil importer cancelled the orders in the past three days after Malaysian palm oil futures rose more than 6%, hedging their risk against the prospect of falling prices by locking in a profit. "There is a lot of volatility in the market. There was more margin in cancelling bought CPO than in importing, refining, and selling refined palm oil in the local market," said an Indian buyer who operates a refinery on the west coast and cancelled shipments for July delivery. Indian buyers made CPO purchases nearly a month ago around $1,000 to $1,030 per ton, including cost, insurance, and freight, after a rebound in palm oil production brought down prices to their lowest in more than eight months. This week, palm oil futures jumped, tracking a rally in Chicago soyoil futures after the U.S. proposed higher biofuel blending volumes. The sudden rise prompted Indian refiners to cancel contracts at between $1,050 and $1,065 per ton, making a profit of more than $30 per ton, said the sources who spoke on condition of anonymity because they were not authorised to speak to media. Buyers agreed to contract cancellations by accepting a price slightly lower than the current market rate, a decision mutually reached with sellers, said a New Delhi-based dealer with a global trading house. The CPO is being offered at about $1,070 a ton in India for July delivery, compared to $1,020 to $1,030 a month ago. Despite the cancellations, Indian imports are poised to rise in coming months after falling far below average in recent months, bringing down inventories, said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage. India's palm oil imports hit a six-month high in May, driven by low inventories and the oil's price discount to rival soyoil and sunflower oil. Indian buying had gained momentum after India last month halved the import duty on CPO, but the cancellations have disrupted that momentum, said a Kuala Lumpur-based trader with a palm oil producing company. Sign in to access your portfolio
