KUALA LUMPUR, June 1 — India’s vegetable oil imports are likely to surge to 1.14 million metric tonnes (MT) this month against the April-May monthly average of 865,000 MT, said Indian Vegetable Oils Producers Association (IVPA) president Sudhakar Desai said. With the easing of lockdown...
Monday, 01 Jun 2020 11:05 PM MYT
With the easing of lockdown provisions, the average vegetable oil import was expected to rise to about 1.3 million-1.4 million MT per month from July until September, he said in a statement issued in conjunction with an IVPA-hosted global webinar on May 29.He noted that the April-May period was when the country was in total lockdown, requiring inventory drawdown in the distribution chain.
He said coupled the expected ten-fold palm plantation increase in 10 years, India could improve its domestic oil production to reduce import dependency. “The government will be targeting domestic production to increase by 55 per cent by 2024-2025,” he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India's vegoil imports could jump from JuneMUMBAI: India's vegetable oil imports are likely to surge from June onwards as New Delhi eases coronavirus curbs, the head of a trading body said on Monday.
Read more »
India expels Pakistan embassy officials for alleged spying | Malay MailNEW DELHI, June 1 — Two officials at Pakistan’s High Commission in New Delhi were being expelled for “espionage activities”, India’s foreign ministry said late yesterday, allegations its nuclear-armed rival called “baseless”. Tensions are already heightened between the...
Read more »
Minister: India’s ‘pride’ will be defended in new China border flareup | Malay MailNEW DELHI, May 31 — India will not let its “pride be hurt” in its latest border flareups with China but is determined to settle the dispute through talks between the giant neighbours, Defence Minister Rajnath Singh has said. Singh also said in a television interview late yesterday that India...
Read more »
Taj Mahal damaged in deadly India thunderstorm | Malay MailAGRA, May 31 — A deadly thunderstorm that rolled across parts of northern India damaged sections of the Taj Mahal complex, including the main gate and a railing running below its five lofty domes, officials said today. One of the New Seven Wonders of the World, India’s top tourist attraction...
Read more »
IHS Markit: Malaysia’s PMI rises sharply in May, indicating economic downturn have bottomed out | Malay MailKUALA LUMPUR, June 1 — The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI) rose sharply to 45.6 in May 2020 from the record low of 31.3 in April 2020 survey. In a note today, IHS Markit said Malaysia’s manufacturing sector showed signs of approaching stabilisation...
Read more »
Bursa Malaysia rises at mid-morning | Malay MailKUALA LUMPUR, June 1 — Bursa Malaysia remained higher at mid-morning, in line with regional peers. At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 16.11 points better to 1,489.36 from 1,473.25 at the close last Friday. However, on the broader market, decliners outpaced gainers 522...
Read more »