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The apex edible oil industry associations from five major palm oil importing countries in Asia have come together for the first time to form an alliance -- Asia
In the first general body meeting of the Alliance, Atul Chaturvedi, the President of SEA, was elected as the first Chairman.
Get latest articles and stories on India at LatestLY. The finance ministry has extended concessional customs duty on edible oil imports by another 6 months till March 2023, a move aimed at increasing domestic supply and keeping prices under control. India News | FinMin Extends Concessional Customs Duty on Edible Oil Imports by 6 Months Till March 2023.
US fed rate hike: The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
India's palm oil imports rose 14.96% in June from the previous month as the world's biggest importer of vegetable oils stepped up purchases from Malaysia, Thailand and Papua New Guinea to offset the impact of export curbs imposed by Indonesia. In June, India imported 5,90,921 tonnes of palm oil, the most widely consumed edible oil in the country as well as globally, up from