2 Min Read
KUALA LUMPUR (Reuters) - Weather disruption and labour shortages mean global palm oil production is unlikely to stay on trend to hit growth projections of more than 6 million tonnes this year, a leading sector analyst told a virtual conference on Wednesday.
FILE PHOTO: A worker arranges palm oil fruit bunches at a factory in Tanjung Karang, Malaysia August 14, 2020. REUTERS/Lim Huey Teng/File Photo
“If you plot long-run growth in crude palm oil output, if it regains its trend, production will rise by nearly 1 million tonnes in Malaysia, 4.5 million tonnes in Indonesia,” James Fry said.
“The trends imply those increases but the affects of rain, labour issues means you won’t get there,” he added.
Oilmeals exports up by 133 per cent in December
January 19, 2021
Tightening global supply of soybean and the strike by oilseed workers unions in Argentina helped India record a growth in oilmeals exports during December 2020.
The Solvent Extractors’ Association (SEA) of India, which has come out with the provisional export data of oilmeals for December 2020, said that export of oilmeals increased to 5,12,997 tonnes during December 2020 as against 2,20,404 tonnes in the corresponding period of 2019, recording a growth of 133 per cent.
It said that the overall export of oilmeals stood at 24,61,696 tonnes during April-December of 2020 as against 19,55,276 tonnes during the same period of 2019, recording a growth of 26 per cent.
Oilseed sector seeks fresh policy impetus from Centre
January 17, 2021
× With the country’s dependence on edible oil import reaching 70 per cent, the sector wants the Government to give thrust on increasing production and productivity of oilseeds in the country in the forthcoming Budget.
BV Mehta, Executive Director of Solvent Extractors’ Association (SEA) of India, told
BusinessLine that the association wants the government to give focus on increasing the production and productivity of oilseeds in the Budget.
Some of the suggestions included shifting of acreage from grains to rape-mustard in Punjab and Haryana. Stating that the oilseed production is stagnant at around 28-30 million tonnes per annum with a productivity of around 900-1,000 kg/ha, he said there is a need to focus on increasing the productivity to 1,500 kg/ha.
Duty cut pushes CPO import up by 18% in Dec
January 15, 2021
Although import duty on CPO was reduced by 10%, the import duty on other soft oils remained unchanged
Although import duty on CPO was reduced by 10%, the import duty on other soft oils remained unchanged×
India imported 7,48,006 tonnes of crude palm oil in December, 2020
Our Bureau
A 10 per cent duty reduction on the import of crude palm oil (CPO) on November 27 has helped boost CPO import during December, according to the Solvent Extractors’ Association of India (SEA).
India imported 7,48,006 tonnes of CPO during December 2020 as against 6,31,824 tonnes in the corresponding period of 2019, recording a growth of 18.38 per cent.
India's palm oil imports rose 4% in December from a year earlier, as reduction in the import tax prompted refiners to increase purchases of the edible oil, while soyoil imports doubled, a leading trade body said on Thursday.