New Delhi China is expected to lower its palm oil purchases in the 2021-22 marketing year, spanning October 2021-September 2022, as it looks to ramp up domestic edible oil production a move that can help reduce reliance on vegetable oil imports.
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China s Agriculture Outlook Committee, or CAOC, lowered its forecast for 2021-22 palm oil imports to 4.2 million mt from the 2020-21 estimate of 4.5 million mt, according to the Chinese Agricultural Supply and Demand Estimates, or CASDE, report released May 13.
This was contrary to a May 12 report by the US Department of Agriculture s Foreign Agricultural Service, which sees China s 2021-22 palm oil imports to grow to 7.2 million mt, up almost 6% from 2020-21 levels.
The country imported 701,795 tonnes of palm oil last month, while soyoil imports fell by 21% to 144,020 tonnes, the Solvent Extractors Association of India (SEA) said in a statement.
Customs glitches stall edible oils import
May 11, 2021
Stocks stuck at ports equal 10-15 days worth of processing capacities - The Hindu×
Govt expects prices to soften after stocks get released from ports
The holding up of imported edible oil consignments in Indian ports for nearly two weeks has led to drying up of supply pipepline temporarily and steps are being taken to release them at the earliest.
On Monday, Food and Public Distribution Secretary Sudhanshu Pandey had said some edible oil stocks are being held up in two Gujarat ports – Kandla and Mundra – because of delay in some tests meant for general risk analysis.
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