World: USDA review as of November 2021

게시됨 2021년 11월 10일

Tridge 요약

India is set to increase its palm oil imports due to reduced duties, with the country's imports for 2020/21 expected to rise by 470,000 tons to 8.5 million tons. This is due to tax cuts that could lower the cost of oil for consumers by Rs 15-20 per kilogram. The move is expected to benefit major Indian edible oil companies and suppliers such as Indonesia, Malaysia, and Thailand. In contrast, global oilseed production has seen a slight decline this month, largely due to a drop in soybean production in Argentina and the US. However, increases in production in India and other countries have offset this to some extent. Global meal production is projected to rise, driven by increased exports of Indian soybean meal and Canada's focus on rapeseed products.

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원본 콘텐츠

Lower duties are expected to boost India's palm oil imports. Reports show that a series of tax cuts could benefit Indian consumers by lowering the cost of oil by Rs 15-20 per kilogram. Some major Indian edible oil companies have also slashed their wholesale prices to ease the plight of consumers, oilworld.ru reports citing the USDA. As a result, India's imports of palm oil in 2020/21 are expected to increase by 470,000 tons to 8.5 million, while the forecast for imports for 2021/22 is increased by 300,000 tons to 8.6 million. oils are already increasing exports to India. After the first wave of tariff cuts, palm oil imports more than doubled in August and September from the monthly average for January-July 2021. Indonesia, the largest supplier of palm oil to India, has become the main beneficiary of increased demand, according to oilworld.ru, citing the USDA. Indonesian exporters have boosted shipments ahead of their own September crude palm oil export duty hike. Palm oil exports ...

출처: Oilworld