India has increased the import duty on vegetable oils, which will increase the pressure on their quotations

게시됨 2024년 9월 17일

Tridge 요약

The Indian government has increased the basic duty on crude and refined palm, soybean, and sunflower oil to support local oilseed farmers and boost exports. The new duties will significantly increase the effective duty on these oils, limiting future imports, particularly of sunflower oil. This comes as import data for edible oils in India shows a decrease, with palm oil experiencing the largest drop. Globally, the market is reacting to these changes, with concerns about the impact on soybean oil demand and potential limitations on soybean exports due to increased biodiesel production in Brazil.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

The Indian government has increased the basic duty on crude palm, soybean and sunflower oil from 0% to 20%, and on refined palm, soybean and sunflower oil from 12.5% to 32.5%. The move should support oilseed farmers, especially in Maharashtra and Madhya Pradesh, and boost oil exports. Now the effective (full) duty on crude palm, soybean and sunflower oil will increase from 5.5% to 27.5%, and on refined oil - from 13.75% to 35.75%, which will greatly limit oil imports in the near future, especially sunflower, which has risen in price significantly. Asian markets had a day off yesterday, so palm oil prices will only react to the new rules today. On Friday, October palm oil futures on Bursa fell 0.55% to 3,831 ringgit/t or $888/t (-1.7% for the week). In August, the import of edible oils to India decreased by 17% compared to July to 1.53 million tons, in particular palm oil - by 27% to 791 thousand tons, sunflower oil - by 21% to 288 thousand tons, while soybean oil - increased by 16 ...

출처: Graintrade