Indian food and beverage manufacturer start to consider palm oil substitutes
RBD Palm Oil
Market & Price Trends
Published May 17, 2021
India is the largest consumer of palm oil products, such as CPO, Palm Olein, to Shortening. The increasing palm oil prices that began in 2020 has caused the food and beverage manufacturer to reduce its grammage on chips and snacks. Within 2021, it is predicted that palm oil will remain at RM 3,800/MT or higher. The manufacturers have no choice, but to also consider replacing palm oil with other vegetable oil, such as rice bran oil and cottonseed oil.
*By 2020, India imported 7,2 million MT of palm oil from Indonesia and Malaysia