India’s palm oil, sunoil imports rise to record highs; soyoil drops

India’s palm oil and sunflower oil imports reached record highs in 2022/23 due to a rebound in consumption and a steep discount compared to rival soyoil. The country’s largest importer of vegetable oils, India, bought palm oil mainly from Indonesia, Malaysia, and Thailand, while soyoil imports fell 12% to 3.68 million tons.

The Indian government has granted a one-time exemption from the export ban to Patanjali Ayurved for shipping 20 tonnes of non-basmati white rice as a donation to Nepal for earthquake victims. Exports of non-basmati white rice were banned in July to boost domestic supply, but are allowed on request and based on permission granted by […]

The Indian Pulses and Grains Association (IPGA) said that one influential exporter in Mozambique has not been allowing other exporters to ship tur to India, thereby driving up the prices.

Earlier this year, Russian officials said that Moscow had accumulated billions of rupees in Indian banks that couldn’t be used. Industry estimates peg this amount at $7-8 billion. Until July 2, the RBI had approved 34 applications from different Russian banks for opening SRVAs in 14 Indian commercial lenders.

The commerce ministry’s committee which is reviewing eligibility criteria for election of office bearers of export promotion councils (EPCs) and apex exporters body FIEO is likely to submit its report by the end of November. The committee is expected to submit its report by the end of this month. Exporters have urged the ministry for […]

The meet will focus on several tracks — ‘Financial Cooperation’, ‘Cooperation in Pharmaceuticals and Healthcare’, ‘Support for Innovation and Entrepreneurship’, ‘Trade and Logistics’, ‘Tourism and Cultural Relations’, and ‘Digital Transformation and E-commerce’, ET has learnt.

India imported 69.06 million metric tons of Russian oil, equivalent to 1.85 million barrels per day (bpd), between January and September, commerce ministry data showed, including Russian oil imported from South Korea, Greece and Spain through transshipments.

At the end of a three-day visit to India, Kadir told PTI that both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups. Ways to further boost the overall trajectory of ties were discussed extensively during talks between External Affairs Minister […]

While US goods imports from China declined by 10% from 2018 through 2022 in inflation-adjusted terms, they rose by 44% from India, 18% from Mexico and 65% from the 10 countries of the Association of Southeast Asian Nations (ASEAN), a recent study by Boston Consulting Group has pointed out.

India, the world’s biggest producer and consumer of pigeon peas, relies on imports during the final quarter of the year before the new crop harvest in January. Over half of India’s imports of pigeon peas are sourced from Mozambique.