Indian palm oil refiners face global price heat

Big palm oil refiners and manufacturers like Adani Wilmar, Ruchi SoyaBSE -1.07 %, Emami are in trouble as imported crude and refined palm oils from Malaysia and Indonesia are available at the same price in India.

Though the duty differential between crude and refined palm oil is 7.5%, edible oil sellers are finding it more convenient to import refined palm oil directly from Malaysia and Indonesia and sell it in the domestic market.
While Malaysia has imposed a 5% export duty on crude palm oil (CPO), Indonesia has imposed a levy of $50 per tonne of CPO. But both countries have not imposed any duty on export of refined palm oil.

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Posted in: Indian Market Tips