Wait...

Online Export Import Data Search

Complete Training Video : Click Here

India Palm Oil Imports Seen Falling as Higher Duties Curb Demand.


Date: 15-05-2018
Subject: India Palm Oil Imports Seen Falling as Higher Duties Curb Demand
India’s palm oil imports probably dropped in April as higher taxes on shipments curbed demand in the world’s biggest buyer.

Purchases fell about 1.7 percent to 740,000 metric tons from a year earlier, according to the median of four estimates in a Bloomberg survey of processors, brokers and analysts. Total vegetable oil imports decreased 9.7 percent to 1.21 million tons, the survey showed. The Solvent Extractors’ Association of India is expected to release its monthly trade numbers this week.

Lower imports by India may drag down palm oil prices, which have fallen in five out of six months through April. Benchmark futures in Malaysia have lost 4.9 percent so far this year on expectations of higher production and after India increased import taxes on the vegetable oil in March.

“Palm oil has got a duty disadvantage,” said Sandeep Bajoria, chief executive officer of Sunvin Group, a Mumbai-based broker and consultant for the oilseeds industry. Imports may fall further to 675,000 tons in May as higher duties are dampening demand, he said.

Palm oil for July delivery rose 2.3 percent to 2,435 ringgit ($611) per ton by 11:11 a.m. on Bursa Malaysia Derivatives on Monday. The market reopened after a three-day break that saw the opposition party win office for the first time in six decades.

India’s soybean oil purchases fell about 42 percent to 177,500 tons in April, the survey showed. India buys soybean oil mainly from the U.S., Brazil and Argentina. Sunflower oil imports rose about 7 percent to 251,500 tons.

Source: bloombergquint.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-05-2018
TRADE NOTICE NO. 11/2018-19
Extension of date for mandatory digital payment through e-MPS

Date: 18-05-2018
Notification No. 23/2018-Central Tax
Seeks to extend the due date for filing of FORM GSTR-3B for the month of April, 2018.

Date: 17-05-2018
Notification No.43/2018-Customs (N.T.)
"Exchange Rates Notification No.43/2018-Custom(NT) dated 17.5.2018"

Date: 17-05-2018
Notification No. 27/2018-Customs (ADD)
seeks to impose definitive anti-dumping duty on imports of "Ceramic Rollers", originating in or exported from People's Republic of China.

Date: 17-05-2018
Circular No.11 /2018-Customs
Forwarding of samples for testing to the Outside Laboratories- reg.

Date: 16-05-2018
TRADE NOTICE NO. 10/2018-19
Clarification regarding DGFT Notification No.4 & 5.

Date: 16-05-2018
TRADE NOTICE NO. 09/2018-19
Implementation of MOU between India and Mozambique for import of pulses from Mozambique.

Date: 15-05-2018
TRADE NOTICE NO. 08/2018-19
Public Notice No.33 dated 23.10.2017 applied to all scrips under Chapter 3 of FTP.

Date: 15-05-2018
Notification No.42/2018-Customs (N.T.)
"Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg"

Date: 14-05-2018
Notification No. 26/2018-Customs (ADD)
seeks to extend the levy of anti-dumping duty, imposed on imports of Peroxosulphates (Persulphate)originating in or exported from China PR under Notification No. 11/2013-Customs (ADD), dated the 16.05.2013 for a further period of one year (i.e. 14.05.2019).



Exim Guru Copyright © 1999-2018 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001