India’s vegetable oil importers say with a massive mustard crop ready for harvesting, refined palm oil imports will depress domestic oilseed prices and the government may be left with huge stockpiles.
Referring to media reports that the Ministry of Commerce’s Directorate General of Foreign Trade has issued permits to import 1.1 million tonnes of RBD palm olein, the Mumbai-based Solvent Extractors’ Association of India asked for a review of “the rationale for issuing such licences which are at variance with our country’s stated objective” of supporting local refining.
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