Indian government may raise vegoil import duty third time since Aug 2017.
Ram Gopal Yadav (8 years ago)

Indian government may raise the import duty on vegetable oils such as refined palm oil and palm olein, sunflower oil and cottonseed oil for the third time since August 2017, amid lobbying by the country’s refiners and to protect local farmers. This move could come ahead of key state and general elections due to be held in 2018 and 2019, to attract farmerr. The government had raised import duties in August 2017 and again in November in the wake of intense lobbying by the Indian refiners, and in order to cater to farmers requests ahead of a key state election in Gujarat.

MCX CPO near 1-month low on cues from Malaysian bourse.
Ram Gopal Yadav (8 years ago)

The February contract of crude palm oil on MCX hit a near one-month low tracking benchmark contracts on the Bursa Malaysia Derivatives. Prices of crude palm oil fell on the Malaysian bourse due to a strong ringgit against the dollar and on concerns over a likely fall in demand from the European Union.