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Indian refiners said the June 30 easing of curbs on refined palm oil and palmolein imports leaves them at a cost disadvantage of Rs 6,578 to 8,070 per tonne. The Indian Vegetable Oil Producers' Association asked the government to reconsider, noting that Malaysia and Indonesia provide export subsidies.
If the import easing persists, cheaper imported refined palm oil could displace domestic refining and increase Indian imports, supporting palm oil prices. Lobbying could lead to policy reversal, which would reduce that demand.
thehindubusinessline.comJul 8, 2021After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
