Modi to bet $1.5 billion on palm oil plan as imports surge

Last Updated: Tuesday, August 18, 2015, 13:03

India plans to spend $1.5 billion in the next three years to help farmers grow oil palm trees in an area the size of New Jersey, government sources said, with Prime Minister Narendra Modi pushing to make the nation self-sufficient in edible oils this decade.

Palm oil imports rise 23% in June on lower global prices

Last Updated: Wednesday, July 15, 2015, 20:46

India's palm oil imports rose by 23 percent to 7,34,358 tonnes in June against the year-ago period on account of lower global prices, Solvent Extractors' Association (SEA) said Wednesday.

India's March palm oil imports jump 25%: SEA

Last Updated: Wednesday, April 15, 2015, 14:08

India's palm oil imports rose by 25 percent to 6,82,274 tonnes in March against the year-ago period due to cheaper shipments from Indonesia and Malaysia, Solvent Extractors' Association (SEA) said on Wednesday.

India's palm oil imports fall over 21% in Jan: SEA

Last Updated: Friday, February 13, 2015, 16:02

Palm oil imports fell 21.25 percent to 6,58,670 tonnes in January due to spurt in global prices of crude palm oil (CPO), Solvent Extractors' Association (SEA) said Friday.

SEA seeks higher import duty on refined oil

Last Updated: Friday, December 27, 2013, 18:58

Solvent Extractors' Association of India (SEA) on Friday pitched for raising import duty on refined palmolein oil in order to discourage its cheap import and safeguard the interest of domestic refineries.

NCDEX relaunches crude palm oil futures

Last Updated: Tuesday, November 26, 2013, 15:40

To begin with, the exchange has launched four CPO contracts. Each contract will expire in December 2013, January, February and March of 2014, NCDEX said in a statement.

Southeast Asia approves anti-haze system

Last Updated: Thursday, October 10, 2013, 10:03

Southeast Asian leaders on Wednesday approved a new system aimed at cracking down on illegal forest fires blamed for the region`s worst smog crisis in years.

Chandy gets clean chit in palm oil import case

Last Updated: Tuesday, June 25, 2013, 15:41

The Kerala High Court on Tuesday gave a clean chit to Chief Minister Oommen Chandy in the palm oil import case.

Centre to procure 90,000 tonnes of oil palm from AP

Last Updated: Friday, March 8, 2013, 15:59

"On the request of Andhra Pradesh government, Agriculture Ministry has sanctioned Market Intervention Scheme (MIS) to procure 90,000 tonnes of oil palm fresh fruit bunches...In the state," Minister of State for Agriculture Tariq Anwar said in a written reply to the Rajya Sabha.

Edible oils recover on global cues, millers buying

Last Updated: Monday, December 17, 2012, 14:28

In the national capital, palmolein (RBD) and Palmolein (kandla) stood at Rs 7,200 and Rs 6,700 per quintal respectively.

`Indian palm oil firms make Indonesian eco-disaster`

Last Updated: Tuesday, June 19, 2012, 20:27

Greenpeace India Tuesday claimed that major Indian corporates houses could be linked to the destruction of the Indonesian rainforests through their imports of palm oil from the country.

Hike duty on edible oil imports: SEA

Last Updated: Friday, March 2, 2012, 18:32

With surge in import of refined palm oil, edible oil processors have urged Finance Minister Pranab Mukherjee to hike import duty on the commodity to 16.5 percent from the existing 7.5 percent to save the domestic industry from closing down.