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Palm oil has played a positive role in the
world oils and fats supply and demand equation
largely due to its techno-economic advantages
and versatility as well as some of the developments
in the world in relation to security of supply,
health and environment.The major markets for
palm oil are in the developing countries.
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Although these markets have
great potential, there are always market impediments
as many of these developing countries institute
measures to curtail imports to protect their
domestic farming community, self-sufficiency
objectives or cope with financial constraints
including shortage of foreign exchange.
India, which is one of the largest importer and
consumer of edible oils in the World, imports
more than 3 million tons of palm oil annually
(mainly from Malaysia, followed by Indonesia).
This implies that the country is dependent on
palm oil imports for over 25% of its annual edible
oil requirement. There has been a sharp rise
in the imports of palm oil into the country during
the last five years. The composition of the Indian
palm oil import basket has also undergone a change
during the past 5 years. Crude oil has almost
replaced refined oil imports owing to the differential
duty between the two.
To know more about investing in Commodities contact
: commodities@motilaloswal.com
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