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Business Standard
31-07-2025
- Business
- Business Standard
Indian importers ramping up oil purchases ahead of festival season: IVPA
Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides "a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. The organised sector will not have any issue in implementing it unlike the unorganised sector. "Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. Edible oil imports declined by nearly one lakh tonnes over the past six months but are expected to recover in the next six months. "Overall edible oil imports would be more or less the same as last year," he said. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is "very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. "Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. "It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline.
Time of India
31-07-2025
- Business
- Time of India
Indian importers ramp up palm oil purchases ahead of festival season
Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides "a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Leadership Management Degree CXO PGDM Data Science Healthcare Design Thinking MBA healthcare Finance MCA Operations Management Data Science others Product Management Artificial Intelligence Others Digital Marketing Cybersecurity Data Analytics Public Policy Technology Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After 35 Years, Her Jewelry Is Nearly Gone The Heritage Journal Read More Undo The organised sector will not have any issue in implementing it unlike the unorganised sector. "Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. Live Events With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. Edible oil imports declined by nearly one lakh tonnes over the past six months but are expected to recover in the next six months. "Overall edible oil imports would be more or less the same as last year," he said. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is "very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. "Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. "It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline.
News18
31-07-2025
- Business
- News18
Indian importers ramp up palm oil purchases ahead of festival season
New Delhi, Jul 31 (PTI) Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides 'a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. The organised sector will not have any issue in implementing it unlike the unorganised sector. 'Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is 'very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. 'Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. 'It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline. PTI LUX DRR view comments First Published: July 31, 2025, 12:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
25-07-2025
- Business
- Business Standard
Indian vegetable oil body demands review of Nepal imports, packaging rules
The Indian Vegetable Oil Producers Association (IVPA) on Friday called on the government to review duty-free imports of refined oils from Nepal and reinstate standardised packaging for edible oils, saying current policies hurt domestic processors. The demands came at the end of a two-day global roundtable marking IVPA's 50th anniversary, where the industry body highlighted concerns over Nepal's exports flooding northern and northeastern Indian markets. "This not only undercuts domestic processors and refiners but also suppresses farmgate prices for oilseeds and contributes to underutilisation of processing capacities," IVPA said in a statement. The association proposed channelling zero-duty imports through government agencies like the National Agricultural Cooperative Marketing Federation of India (Nafed) and other state agencies as a potential solution. IVPA also urged the government to reintroduce standard packaging sizes for edible oils, saying the current variety of pack options creates consumer confusion over pricing. On market outlook, IVPA said palm oil prices remained consolidated around current levels, with discounts to soybean oil likely to persist. It predicted Indian mustard price rallies would cool as the government releases stocks. Globally, sunflower oil prices may ease as Black Sea region crops return to normal levels, the association said. IVPA President Sudhakar Desai led the event discussions. The association emphasised that given increasing global biofuel mandates, India should pursue higher domestic oilseed production through incentivised minimum support prices.
News18
24-07-2025
- Business
- News18
India, Indonesia palm oil groups sign pact to deepen economic ties
New Delhi, Jul 24 (PTI) The Indian Vegetable Oil Producers' Association (IVPA) and Indonesian Palm Oil Association (IPOA) on Thursday signed a three-year pact here to deepen economic ties and ensure food security. The memorandum of understanding aims to strengthen collaboration in the palm oil sector, which forms the backbone of the edible oil trade between the two nations. India imports over 60 per cent of its edible oil requirements, with Indonesia serving as its largest palm oil supplier for more than a decade, according to industry body SEA India. The agreement formalises this relationship, while focusing on sustainable practices and stable supply chains. 'Today's MoU signals our shared commitment to a future-ready, transparent palm oil supply chain that benefits consumers and producers alike," said Sudhakar Desai, President, IVPA, at the signing ceremony. The agreement outlines five key areas of cooperation — technical exchange and research & development, sustainability initiatives, policy coordination, food security measures, and market intelligence sharing. Both associations will focus on promoting certified sustainable palm oil while including smallholder farmers in the value chain. M Fadhil Hasan, Head of Foreign Affairs, IPOA, emphasised Indonesia's commitment to supporting India's food security goals. 'We look forward to advancing India's food security and climate goals through a reliable, responsibly sourced palm oil supply," he said. Speaking at the conference, Hasan added that palm oil remains vital to Indonesia's economy. 'Through ISPO certification, forest conservation measures, and responsible production, we aim to support India's food security and climate goals. While challenges like smallholder compliance remain, this partnership will drive innovation and inclusive policies for a resilient supply chain." IPOA Chairman Eddy Martono highlighted the strong bilateral trade relationship between the countries. 'In 2024, our bilateral trade reached USD 26 billion, including USD 20.3 billion in exports from Indonesia to India and USD 5.7 billion in imports from India, leading to a trade surplus of USD 14.6 billion in Indonesia's favour. Palm oil and its derivatives alone accounted for USD 4.4 billion, highlighting its key role in our economic ties," Martono said. Globally, palm oil accounts for 39.5 per cent of vegetable oil production, with Indonesia contributing 58 per cent of global exports. The Indonesian palm oil industry spans 16.38 million hectares, 7.4 per cent of the country's land area, with private firms holding 52.3 per cent, smallholders 41.3 per cent, and state enterprises 6.4 per cent. The agreement is supported by ongoing engagement between the Indian Ministry of Commerce & Industry and the Indonesian Ministry of Trade, complementing India's National Edible Oil Mission and Indonesia's export decarbonisation goals. A bilateral working group will oversee the MoU's implementation, provide annual progress reports, and represent joint positions on global platforms. The partnership is expected to enhance supply chain resilience while advancing sustainability goals in the palm oil sector. PTI LUX BAL BAL view comments First Published: July 24, 2025, 23:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
