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New Delhi, Feb 25 () Edible oil industry on Tuesday urged the government to stop issuing further licences for the import of palmolien, warning that it would further depress local prices ahead of the arrival of massive mustard seed crop. In a representation to the Commerce Ministry, Solvent Extractors Association of India (SEA) President Atul Chaturvedi noted that the government banned import of RBD Palmolein a month back to check excessive imports but media reports said that the Directorate General of Foreign Trade (DGFT) has issued licences for the import of 11 lakh tonnes of palmolien. "We are dismayed at this action which has the potential of destroying palm refining industry in the country. This is contrary to our PM's vision of Make in India," he added. The industry appealed to the Commerce Ministry to stop issuing further licences to safeguard the interest of domestic vegetable oil refining industry and mustard farmers. Chaturvedia further said that there is no shortage of RBD Palmolein or edible oils in the country and also edible oil prices in international as well as domestic markets are showing downward trend in the last one-and-a-half months. With a massive mustard crop ready for harvesting, import of palmolien will have a great dampening effect on prices of domestic oilseeds and oils, he said He also expressed concern that it may result in mustard selling below minimum support price (MSP) and once again government's nodal agency NAFED getting saddled with huge stocks. According to the SEA, Indonesia has great advantage to push RBD Palmoelin to India as it is cheaper than crude palm oil (CPO), at present, with higher levy on CPO at USD 50 per tonne and lower duty on RBD Palmoelin at USD 30 per tonne. Further, India's duty difference between CPO and RBD Palmolein being only 7.5 per cent will open the flood gates for import of RBD Palmolein which was seen during last year from January to September 2019 when the duty difference was just 5 per cent for import from Malaysia, it said. "This will also have serious impact on domestic refining industry and capacity utilizations will go down," SEA said. LUX MRMR

Govt should stop issuing further licence for import of palmolien: SEA

New Delhi, Jan 1 () The government on Wednesday slashed import duty on refined palmolein from 50 per cent to 45 per cent, while that on crude palm oil (CPO) from 40 per cent to 37.5 per cent with immediate effect, a move that the industry opposed saying it will hurt domestic refiners.
 A notification in this regard has been issued by the finance ministry.
 The duty cut has been made under the ASEAN agreement and the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA), the notification added.
 Opposing the move, the Solvent Extractors' Association of India (SEA) said that after the reduction in import duty, the tax difference between CPO and refined palmolein has reduced from 10 per cent to 7.5 per cent.
 "This will have serious impact on domestic palm oil refining industry and oilseeds farmers. We fear import of refined palmolien would increase and capacity utilisation of our industry would be affected leading to potential loss of employment," SEA Executive Director B V Mehta said in a statement.
 After a long time, the domestic oilseeds had started selling their produce above the minimum support price (MSP). "Lower import duty would make it difficult to defend MSP and the new found enthusiasm of the oilseed farmers would be dampened," he said.
 The country's edible oil imports are now touching 70 per cent of the consumption. The duty cut would be counterproductive and contrary to the government's stated objective of increasing domestic oilseed production, he added.
 Asserting that India too should protect the interest of farmers like Malayasia and Indonesia, the SEA said Indonesia from January 1 has imposed export duty of USD 50 on CPO and USD 30 per cent on refined palmolien.
 Similarly, Malaysia has imposed export duty of USD 31 per cent on CPO and zero duty on refined palmolein which work out to be nearly 5 per cent on CPO value, thus effective duty difference is hardly 2.5 per cent only.
 "We strongly appeal to the government to increase the duty differential between CPO and refined palm oil to 15 per cent, by taking appropriate measures," the industry body added. LUX HRS

Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts

New Delhi, Feb 13 () Vegetable oil imports fell 6 per cent to 11.96 lakh tonnes in January due to restriction on inward shipments of refined palm oil, an industry body said on Thursday. Import of vegetable oils (comprising edible and non-edible oils) during last month is reported at 11,95,812 tonnes compared to 12,75,259 tonnes in January 2019, Solvent Extractors' Association of India (SEA) said in a statement.Edible oil imports fell to 11,57,123 tonnes from 12,10,603 tonnes, while shipments of non-edible imports declined to 38,689 tonnes from 64,656 units during the period under review, the data showed.During the first three months of 2019-20 oil marketing year, the overall import of vegetable oils is down 5 per cent at 34,51,313 tonnes compared to 36,20,316 tonnes in the corresponding period of the previous year. Oil year runs from November to October."Director General of Foreign Trade (DGFT), Ministry of Commerce &amp; Industry, issued notification dated 8th January, 2019, placing import of RBD Palmolein and Palm Oil under 'restricted list' to regulate excessive import in to India. The import will now be subject to license to be issued by DGFT," the statement said.During first quarter of current oil year, import of refined oil (mainly RBD palmolein) decreased to 2,66,859 tonnes from 4,06,799 tonnes in the same period of last year. However, import of crude oil increased marginally at 30,94,068 tonnes compared to 30,22,951 tonnes during the same period of last year."During November'19-January'20, palm oil import has decreased to 20,04,657 tonnes (60 per cent) from 23,18,763 tonnes (68 per cent) during the same period of last year. However, soft oils (sunflower, soyabean and rapeseed) import increased to 13,56,270 tonnes (40 per cent) from 11,10,987 tonnes (32 per cent) during the same period of last year mainly due to reduction in spread between Palm Oil and Soft Oils, makes soft oils import more viable," the statement said. MJH RUJ

Veg oil imports down 6% at 11.96 lakh tonnes in January 2020

New Delhi, Mar 13 () Vegetable oil imports fell 10.5 per cent to 11.12 lakh tonnes last month, mainly due to lower shipments of refined palm oil, according to industry data. Import of vegetable oil during February 2020 is reported at 11,12,478 tonnes compared to 12,42,533 tonnes in February 2019, the Solvent Extractors' Association of India (SEA) said in a statement. Out of total vegetable oil imports last month, 10,89,661 tonnes was edible oil, while 22,817 tonnes was non-edible oil, SEA said. The overall import of vegetable oil during November 2019 to February 2020 fell 6.1 per cent to 45,63,791 tonnes compared to 48,62,849 tonnes in the corresponding period of the previous year. Oil year runs from November to October. "In view of placing RBD Palmolein under restricted list with effect from January 8, 2020, its import has drastically reduced in February 2020 at 33,677 tons," SEA said. "Import of crude sunflower and crude soyabean oil sharply increased as spread between palm oil and soft oils reduced to nearly USD 75 to 80 per tonne, encouraging larger import of soft oils," it added. MJH RVK

Veg oil imports down 10.5 pc to 11.12 lakh tonnes in Feb

In our daily routines, we often consume foods without realizing their underlying ingredients. One such omnipresent yet discreetly used ingredient is <keyword id="49109" type="General" weightage="20" keywordseo="Palm-oil" source="Orion">palm oil</keyword>. This versatile oil finds its way into numerous products lining our kitchen shelves, contributing to the texture, taste, and even shelf life of various foods. Let's delve into 10 everyday foods that commonly harbor significant amounts of palm oil. Margarine and Spreads: Often marketed as a healthier alternative to butter, margarine and spreads frequently contain palm oil. Its solid consistency at room temperature makes it a prime choice for achieving the desired texture in these products. Baked Goods: Pastries, cookies, cakes, and even bread often contain palm oil due to its ability to enhance the structure and texture of these baked items. It's used in various forms, contributing to the flakiness or softness desired in these treats. Chocolate and Chocolate Products: Palm oil is frequently used in the production of chocolate, especially in cheaper or mass-produced varieties. It aids in giving chocolate a smooth texture and prevents it from melting too quickly. Instant Noodles: An easy and quick meal option, instant noodles often contain palm oil in their seasoning packets or as part of the noodle-making process, contributing to their texture and flavor. Processed Snack Foods: Items like chips, crackers, and other processed snacks commonly contain palm oil, as it helps create the desired crunchiness and extends their shelf life. Ice Cream: Palm oil is utilized in ice cream production to maintain a creamy texture and prevent the formation of ice crystals, ensuring a smoother mouthfeel. Non-Dairy Creamers: Often used as a substitute for milk or cream in coffee or tea, non-dairy creamers frequently contain palm oil to achieve the creamy consistency desired by consumers. Canned Soups and Sauces: Many canned soups and sauces use palm oil to stabilize the ingredients and prevent separation, ensuring a consistent texture and appearance. Infant Formulas: Some infant formulas contain palm oil as a source of fat. It provides essential fatty acids for the baby's development and helps emulate the fat content of breast milk. Personal Care Products: Beyond the realm of food, palm oil finds its way into various personal care items like soaps, shampoos, and cosmetics due to its emollient properties, aiding in moisturizing and conditioning. While palm oil serves various functions in these products, its widespread use raises concerns regarding its environmental impact, particularly regarding deforestation and habitat destruction for oil palm plantations. Consumers are increasingly advocating for sustainable alternatives and transparency in labeling to make informed choices about the products they purchase. Understanding the prevalence of palm oil in everyday items empowers consumers to make conscientious decisions, whether it's opting for products with sustainably sourced palm oil or seeking out alternatives that use different oils altogether. By being aware of the foods and goods that often contain palm oil, individuals can take steps towards supporting more environmentally friendly and ethical practices in the production of everyday essentials. Note: The article is based on content generated by AI models like Bard and Chatgpt. SEE ALSO: <a href="https://www.businessinsider.in/science/health/food/webstories/10-food-items-you-should-never-refrigerate/slidelist/105264858.cms" data-type="tilCustomLink" target="_blank">10 Food items that you should never refrigerate</a>

Exploring 10 everyday foods stealthily high in palm oil

New Delhi, Dec 13 () Vegetable oil imports fell marginally to 11.28 lakh tonne in November due to decline in inward shipments of non-edible oil, according to Solvent Extractors' Association. 
Out of the total vegetable oil import, the shipments of edible oil rose to 10,97,424 tonne in November 2019 from 10,73,353 tonne in the same month last year.
Non-edible oils import, however, fell to 30,796 tonne compared to 60,450 tonne in the year-ago period, SEA said in a statement.
"Import of vegetable oils during November 2019 is reported at 11,28,220 tonne compared to 11,33,893 tonne in November, 2018," the statement said.
Oil year runs from November to October. 
Import of refined palm oil drastically reduced following the imposition of 5 per cent safeguard duty on shipments from Malaysia with effect from September 4, 2019. 
The import of refined palm oil stood at 2.57 lakh tonne in August and 2.64 lakh tonne in September. However, shipments reduced to 1.18 lakh tonne in October and stood at 1.22 lakh tonne in November.
During November 2019, import of refined oil (RBD Palmolein) increased to 1,24,909 tonne from 1,08,911 tonne in November 2018. Import of crude oil increased to 9,75,015 tonne from 9,64,442 tonne in November 2018.
India's vegetable oil imports increased 3.5 per cent to 155.5 lakh tonne in 2018-19 marketing year, due to increase in inward shipments of refined oils. MJH ANU

Vegetable oil imports down marginally to 11.28 lakh tonne in Nov

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s total edible oil imports during November to March were at 5.64 million tonne, up nearly 8 per cent from the same period of 2020-21, according to the data compiled by the vegetable oil industry body The Solvent Extractors' Association of India. Notably, the marketing year for edible oil starts in November. In the month of March, the edible oil imports rose nearly 10 per cent year-on-year to 1.05 million tonnes, the <keyword id="8688" type="General" weightage="50" keywordseo="sea" source="Orion">SEA</keyword> data showed. In March 2021, it was at 9,57,633 tonne. In March, 212,000 tonnes of sunflower oil arrived in India as those vessels had left before conflict between <keyword id="6358826" type="General" weightage="20" keywordseo="russia" source="Orion">Russia</keyword> and <keyword id="6355101" type="General" weightage="50" keywordseo="ukraine" source="Orion">Ukraine</keyword> started. Ukraine and Russia are two major suppliers of sunflower oil to India. Of the 212,000 tonnes sunflower imports, 11,900 tonnes were sourced from another supplier Argentina. However, in April, no shipments from Ukraine took place so far and because of which sunflower oil import may fall to nearly 80,000 tons, SEA said in a statement. The statement added that high prices of sunflower oil in the international market and lesser availability weighed on the demand and consumption of sunflower oil. "This shortfall is partially being replaced by other edible oils like palmolein, soybean oil, groundnut oil in South India and by refined mustard oil and rice bran oil in North India." Also, a slight decline in prices of soya oil, sunflower oil, palm oil and other edible oils during the past one month provided some relief to the consumers, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">Xiaomi’s Manu Kumar Jain has been reportedly summoned by the Enforcement Directorate</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/travel-tourism-and-hospitality-sector-is-witnessing-a-surge-in-manpower-demand-by-20-percent/slidelist/90799907.cms">Travel, tourism and hospitality sector is witnessing a surge in manpower demand by 20 percent</a>

India's edible oil imports at 5.64 million tonnes during November-March, up by 8% YoY

New Delhi, Mar 2 () The commerce ministry's investigation arm DGTR has not recommend further extension of bilateral safeguard duty on imports of a particular variety of palm oil from Malaysia, according to a notification.The Directorate General of Trade Remedies (DGTR) in August last year initiated a probe into an alleged jump in imports of 'Refined Bleached Deodorised Palmolein and Refined Bleached Deodorised Palm Oil' from Malaysia, following a complaint from Solvent Extractors' Association of India.The notification said the "director general does not recommend further extension of bilateral safeguard duty".On September 4, 2019, the revenue department had imposed 5 per cent safeguard duty on imports of refined palm oil from Malaysia, taking the customs levy to 50 per cent for six months, a move aimed at protecting interest of domestic players.It was imposed after the DGTR in a preliminary findings suggested for imposition of the duty for 180 days.According to the final findings, the directorate has concluded that "it may not be necessary to impose safeguard duty beyond the current period of 180 days"."It is considered that the bilateral safeguard duty imposed" on September 4, 2019 under the CECA (Comprehensive Economic Cooperation Agreement) on the imports for a period of 180 days "is sufficient in the present circumstances," it has added.The investigation was conducted under the India-Malaysia Comprehensive Economic Cooperation Agreement (Bilateral Safeguard Measures) Rules, 2017.The agreement is a kind of free trade pact under which both countries have reduced customs duties on several goods traded between them.Imports from Malaysia increased from 6,26,362 MT in 2016-17 to 25,96,225 MT in Jan-June, 2019 (on annualised basis), showing an increase of 314 per cent.Imports from other countries declined from 23,15,292 MT in 2016-17 to 7,25,210 MT in Jan-June, 2019 (on annualized basis). RR BALBAL

Comm min for not extending safeguard duty on palm oil imports from Malaysia

New Delhi, Jan 1 () Following are the top business stories at 1830 hours:
 
DCM22 BIZ-LD AUTO SALES
Maruti Suzuki, M&amp;M beat year-end blues, post rise in domestic sales figures
New Delhi: The country's largest carmaker Maruti Suzuki India and Mahindra &amp; Mahindra on Wednesday reported rise in their domestic sales in December, even as Hyundai and Totoya posted negative growth.
 
DEL55 BIZ-LD STOCKS
Stocks advance on New Year Day on positive macro data, govt infra push 
Mumbai: Stock markets started the New Year on a positive note with benchmark index Sensex gaining 52.28 points or 0.13 per cent to close at 41,306.02 on Wednesday as financials, IT, FMCG and power stocks advanced.
 
DEL49 AVI-FAA-MAX PLANES
Boeing 737 MAX plane: FAA says no timeframe set for completion of work
New Delhi: As many airlines worldwide await the final word on Boeing 737 MAX aircraft, the US aviation watchdog FAA has said a "thorough process" is being followed for testing the plane but no timeframe has been set for completion of the work.
 
DEL43 BIZ-GST
GST revenue mop-up rises to Rs 1.03 lakh cr in Dec
New Delhi: GST revenue collection remained above the Rs 1 lakh crore mark for the second month in a row with December mop-up rising to Rs 1.03 lakh crore as compared to the year-ago period.
 
DEL20 BIZ-ATF-LPG-PRICE
ATF cost up 2.6%; non-subsidised LPG price hiked by Rs 19
New Delhi: Jet fuel or ATF price was on Wednesday hiked by 2.6 per cent and that of non-subsidised cooking gas LPG by Rs 19 per cylinder on the back of a rise in international rates.
 
DEL18 BIZ-INDIA-GROWTH-HANKE
India will struggle to achieve 5 pc GDP growth in 2020: Steve Hanke
New Delhi: India will "struggle" to achieve 5 per cent GDP growth in 2020 as the significant deceleration in past few quarters was largely owing to credit squeeze which is a cyclical problem, said noted American economist Steve Hanke.
 
DEL51 BIZ-RUPEE-CLOSE
Rupee kick starts New Year on positive note, settles 14 paise higher at 71.22 against US dollar
Mumbai: The rupee kick started 2020 on a positive note with gains of 14 paise against the US currency on the first trading day of the New Year on Wednesday. 
 
DCM9 YEAR-TAX
All eyes on Sitharaman's second Budget for tax relief
New Delhi: The common man has his eyes set on Finance Minister Nirmala Sitharaman's second Budget next month for relief in income tax, but an economic slowdown and a sharp reduction in corporate tax rates hint that she has very little flexibility to dole out a big largesse. 
 
DCM27 BIZ-DUTY-PALM OIL
Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts
New Delhi: The government on Wednesday slashed import duty on refined palmolein from 50 per cent to 45 per cent, while that on crude palm oil (CPO) from 40 per cent to 37.5 per cent with immediate effect, a move that the industry opposed saying it will hurt domestic refiners. 
 

 
 
 
 
 
 
 
 
 
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Business highlights

<ul class="summary-list"><li>Palm oil is the most widely consumed vegetable oil on the planet </li><li>Its usage has become controversial as huge areas of rainforest have been cut down or burned to make way for palm plantations.</li><li>Sustainable palm oil's popularity is increasing, and the roundtable on sustainable palm oil now certifies 19% of all palm oil produced worldwide. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>The following is a transcript of the video:Palm oil is a cheap and ubiquitous. It's used in thousands of everyday products and is the most widely consumed vegetable oil on the planet.You can get a kilo of palm oil for just $2. But its usage has become unsurprisingly controversial, as huge areas of rainforest have been cut down or burned to make way for palm plantations. So, why is this oil still so cheaply and readily available?Palm oil is in everything. From chocolate to bread; instant noodles to shampoo. And without even really thinking about it, globally, we consume, on average, 8 kilos of palm oil each year. But even if you look through the ingredients of your product, you may not be able to spot it, because, on the back label, it could look like any of these: Vegetable oil, vegetable fat, palm kernel, palm kernel oil, palm fruit oil, palmate, palmitate, palmolein, glyceryl, stearate, stearic acid, elaeis guineensis, palmitic acid, palm stearine, palmitoyl oxostearamide, palmitoyl tetrapeptide-3, sodium laureth sulfate, sodium lauryl sulfate, sodium kernelate, sodium palm kernelate, sodium lauryl lactylate/sulphate, hydrated palm glycerides, etyl palmitate, octyl palmitate, palmityl alcohol.These days, Indonesia and Malaysia make up 85% of all palm oil production, but the oil palm species used actually originated in West Africa. The trees were introduced to Malaysia in 1875, but for 100 years, something was missing. For years, the flowers were pollinated by hand, requiring hundreds of workers and limiting efficiency. Until, in 1981, African palm weevils were introduced to the country. These little beetles pollinated the plants with no extra work from humans, and, suddenly, palm oil yields boomed. Since, palm oil's popularity has done nothing but rise. Demand spiked again in the '90s, as companies suddenly realized the negative health implications of the trans fats found in many processed products and replaced them with palm oil. And as ultra-processed foods increased, so did the use of palm oil.But this incredible rise came at a cost. The rapid expansion of palm oil plantations has led to the destruction of huge areas of tropical rainforest, creating dangerous CO2 emissions and destroying the remaining habitats of already endangered species. Dan Strechay, RSPO (Roundtable on Sustainable Palm Oil): "It's extremely cheap. It's shelf-stable, it has natural preservative qualities. It is a really good vegetable oil, but the fact is, it has been grown in a way that's caused a lot of environmental damage and has also impacted communities in the workers that have been employed to harvest the material." Seeing the devastation caused, your first instinct might be to cut out palm oil completely. But searching for an alternative might actually make things worse. Palm oil is so efficient that using an alternative oil would require up to 10 times the land to grow. This efficiency the main reason the oil is so cheap. Oil palm trees are evergreen and perennial, they produce oil all year around, and can happily grow in soils that many other plants can't.NGOs and companies from around the world set up the NGO The Roundtable on Sustainable Palm Oil in 2004 to create a set of criteria to grow this crop sustainably. But it's only since 2018 that The Roundtable has embraced the high carbon stock approach, a system that helps identify valuable areas of forest and keeps the palm oil they certify deforestation-free.So, are we doing enough? The Roundtable now certifies about 19% of palm oil worldwide, but getting to this point has been a long, slow process, and we're running out of time. It looks like palm oil is going to remain cheap for a while longer, but the cost to the planet could be devastating. But it's not just palm oil that's the problem. Joss Lyons-White, PhD student on the Science and Solutions for a Changing Planet: "Palm oil is still pales in comparison in terms of its contribution to deforestation. It pales in comparison with cattle and beef products, which some estimates put up, put up being around responsible for around 70% of tropical deforestation rates."Global Canopy published a list of 500 companies and financial institutions linked to tropical deforestation from soy, palm, cattle, and timber. Only half of these companies have made zero-deforestation a commitment by 2020. And not a single one of these companies is on track to make this target.Global Canopy says that, "Despite the commitments that have been made, evidence shows that rates of commodity-driven deforestation have not decreased." since 2001Dan Strechay, RSPO: "Whether it's palm, soy, beef, leather, all ingredients. Companies have a responsibility not to wait for the consumer to make the demand. They have a responsibility to do it before the consumer demands. Any forest that's being cleared as we face what many would call a climate crisis is too much. So what we know we have to do is we have to take a very hard look at how we consume things, why we're consuming, and how we go about sourcing and growing our materials like palm oil or soy or cotton."

You Searched For "Palmolein oil" and got 10 results

Govt should stop issuing further licence for import of palmolien: SEA

PTI

Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts

PTI

Veg oil imports down 6% at 11.96 lakh tonnes in January 2020

PTI

Veg oil imports down 10.5 pc to 11.12 lakh tonnes in Feb

PTI

Exploring 10 everyday foods stealthily high in palm oil

Ayush Mehrotra

Vegetable oil imports down marginally to 11.28 lakh tonne in Nov

PTI

India's edible oil imports at 5.64 million tonnes during November-March, up by 8% YoY

IANS

Comm min for not extending safeguard duty on palm oil imports from Malaysia

PTI

Business highlights

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Why palm oil is so cheap

Charlie Floyd

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