India’s November palm oil imports jump 22% on lower prices

India’s palm oil imports surged 22% in November, reaching 867,000 metric tons, the highest in three months. The increase is attributed to steep discounts compared to soyoil and sunflower oil, prompting refiners to switch to palm oil. The move could help lower palm oil stocks in top producers Indonesia and Malaysia.

The Forum, comprising CEOs from leading Indian and US-based companies, is co-chaired by N Chandrasekaran, Chairman, Tata Sons, and James Taiclet, President and Chief Executive Officer, Lockheed Martin. This was the eighth meeting of the forum since its reconstitution in December 2014. It is a key advisory private sector body to India-US Commercial Dialogue, and […]

Gujarat Chief Minister Bhupendra Patel along with a high level delegation met Singapore’s Minister of Trade and Industry, Gan Kim Yong on Friday. The delegation had reached Singapore after completing its tour of Japan.

The Indian government has authorized the export of specified quantities of wheat, wheat flour, and broken rice to five countries, including Bhutan, Mali, and Indonesia. The permission covers shipments through the National Cooperative Exports Limited (NCEL). The quantities permitted for Bhutan include wheat grain, atta, maida/semolina, and broken rice.

In a WTO meeting, Piyush Goyal put forward New Delhi’s approach to the issue saying that public procurement and stockholding of food grains serve the twin objectives of food security and income support to marginal farmers. The 19-member Cairns group, which includes agri-exporting nations, lobbies for agricultural trade liberalisation. It was formed in 1986 in […]

India is set to increase coking coal imports from Russia as supplies from Australia, its top supplier, drop and steel mills grapple with rising prices. Indian steel mills have faced challenges due to erratic supplies from Australia, which usually accounts for over half of India’s annual coking coal imports of about 70 million tonnes.

“Technical textiles is a sunrise sector and the future of this industry,” said a government official, adding that ambitious targets have been set for it.

A health ministry statement on November 26 said that the Government of India is closely monitoring the situation and indicated that there is no need for any alarm. The report said that China supplies more than 90 per cent of laptops and produces most components in-house. The same applies to washing machines, solar PV cells […]

The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion).

We have seen a huge increase, a large increase in percentage points in the import. We are very happy to import from India as well, we’re a trading economy. So, an increase in imports from India is also a welcome thing. (It is) Of course a result of you producing even better services and products. […]