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☆ Palm oil buying lifts India's August edible oil imports to record -dealers
▼ + stars: | 2023-09-04 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

Workers prepare oil palm seedlings at a nursery in Khammam district, in southern state of Telangana, India, July 12, 2022. India's average monthly edible oil imports in the 2021/22 marketing year were 1.17 million tons, trade body Solvent Extractors' Association of India (SEA) said. Palm oil imports increased from 1.09 million tons in July to 1.12 million tons in August, the highest in nine months, according to average estimates from the dealers. Sunflower oil imports jumped by 11.5% from a month earlier to 365,000 tons, the highest in seven months, while soyoil imports edged up 3.7% to 355,000 tons, dealers estimated. India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

Persons: Rajendra, Rajesh Patel, Sandeep Bajoria, refiners, Rajendra Jadhav, Jamie Freed Organizations: REUTERS, Rights, Reuters, Association of India, SEA, GGN Research, Sunvin, Thomson Locations: Khammam district, Telangana, India, Rights MUMBAI, Indonesia, Malaysia, Thailand, Argentina, Brazil, Russia, Ukraine, Kandla, New Delhi

☆ Palm oil's rare premium leads to 'wash out' in India -dealers
▼ + stars: | 2023-04-19 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +3 min

Palm oil usually trades at a discount to soft oils, but import restrictions by top producer Indonesia have helped to push palm oil to a premium, making sun oil and soyoil more attractive to buyers. This has prompted some Indian buyers to reduce purchases of palm oil for May shipments and increase soft oil imports. Lower palm oil imports by India, the world's biggest buyer of vegetable oils, could weigh on Malaysian palm oil prices , but support soyoil and sunflower oil prices. But palm oil has moved to a premium at the same time as soft oil prices have dropped, partly due to a record rapeseed crop. Palm oil's discount to rival oils was much as $500 in the December quarter, but now it is holding a rare premium of more than $30 per tonne over sunoil for May shipments, dealers said.

☆ India's sunoil imports rise to record as Russia-Ukraine fight for market share
▼ + stars: | 2023-01-27 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

MUMBAI, Jan 27 (Reuters) - India's January sunflower oil imports are set to surge to a record 473,000 tonnes, nearly triple average monthly imports as top exporters Russia and Ukraine seek to reduce stockpiles, industry officials told Reuters. The import surge will help key Black Sea producing countries in reducing their stocks, but could dampen India's palm oil imports and weigh on Malaysian palm oil prices . The deal allowed exporters to move stuck stockpiles and sign new contracts as well, said Sandeep Bajoria, president of the International Sunflower Oil Association. India's monthly sunoil imports averaged around 161,000 tonnes in 2021/22 marketing year ended on Oct. 31. "Sunflower imports would reduce palm oil purchases this quarter.

Indonesia, producer of more than half of global palm oil supplies, also tightened trade rules this year, allowing exporters to ship just six times their domestic palm oil sales volume, less than a fourth-quarter 2022 ratio of eight times. "Indonesian palm oil export definitely will drop, as output will decline, domestic consumption will increase," Fadhil Hasan, an Indonesian Palm Oil Association (GAPKI) official, told Reuters. Indonesia produced 51.3 million tonnes of palm oil in 2022 and exported 33.7 million tonnes, GAPKI estimated. In 2023, palm oil output is expected at 50.82 million tonnes and exports at 26.42 million tonnes, it said. "But India's strong demand for palm oil will continue as it is still the cheapest edible oil."

Worker loads palm oil fresh fruit bunches to be transported from the collector site to CPO factories in Pekanbaru, Riau province, Indonesia, April 27, 2022. The momentum in shipments could help to bring Indonesia's palm oil stocks, which ballooned to 6.69 million tonnes by end-June from around 4 million tonnes at end-2021, back to 4.5 to 5 million tonnes by end-September, said Eddy Martono, Secretary General at the Indonesian Palm Oil Association (GAPKI). Malaysia has also displaced Indonesia so far in the 2021/22 marketing year to end-October as the top palm oil supplier to India, according to SEA data. "Indonesian sellers are now trying hard to regain the lost market share by offering discounts," a New Delhi-based palm oil dealer said. "Palm oil is big contributor in its tax kitty.

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