where can i buy doc martens Vegetable oil import for November 2017 increases
Hike in import duty
The government of India recently raised the import duty on edible oils by 12.5 per cent to 15 per cent across the board to support the farmers to receive the remunerative prices for their produce.
This announcement has changed the sentiments, and the market has moved upward. And now the prices of soybean and groundnut touched the minimum support price (MSP) which were ruling much below prior to the announcement.
While the hike in duty, inadvertently cottonseed oil duties were not raised and remained unchanged at 12.5 per cent on crude and 20 per cent on refined cottonseed oil, which has created an anomalous situation and harming the interest of cottonseed farmers.
The association has since represented to the government of India to raise the duty on crude and refined cottonseed oils on the lines of other crude and refined oils.
Stock position at port and in pipeline
The stock of edible oils as on December 1, 2017 at various ports was estimated at 8,47,000 ton.
This comprised 3,45,000 ton of CPO, 1,15,000 ton of RBD Palmolein, 2,00,000 ton of Degummed Soybean Oil, 1,80,000 ton of Crude Sunflower Oil and 7,
000 tons of Rapeseed (Canola) Oi) and about 14,20,000 ton in pipelines.
The total stock at ports and in pipelines was reported at 22,67,000 ton. It decreased by 77,000 ton from 23,44,000 ton in November, 2017.
India’s monthly requirement was about 18 lakh tons and operate at 30 days’ stock, against which the current holding stock, over 22.67 lakh ton, equalled 38 days’ requirements.
Stock position at ports and pipelines (Quantity in ‘000 MT)
From October 2016 onwards, the landed price of RBD Palmolein and CPO have remained more or less the same, encouraging a larger import of RBD Palmolein at the cost of CPO. The spread between palm oil and soft oil also reduced, encouraging a larger import of soft oils.
Import of non edible oils
Import of non edible oils during November 2017 is reported at 23,495 ton only compared to 19,601 ton in the same period last year. P F A D, P K F A D,
C P K O and RBD Palm Sterin are the major imported of non edible oils.