Page 192 - CW E-Magazine (12-11-2024)

Special Report

(INR/kg) Crude palm oil RBD Palmolein Refi ned soyabean oil
125
120
115
110
105
100
95
90
85 Target Your Market More Effectively
80 ChemImpex IndiaChemTrade
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ChemImpex, the trade database, tracks, on a daily IndiaChemTrade provides consolidated trade statistics
basis, exports and imports of chemicals and related of India. The information provided here is based on the
Fig. 4: Domestic Edible Oil Prices Increased 20% Since the Duty Hike.
products through the major ports in India — a vital
Source: CMIE, Ind-Ra. annual trade data published by the Directorate General
source of commercial intelligence.
increase in 2HFY25. Players holding Find out on-line of Commercial Intelligence and Statistics, Government
Furthermore, palm oil and its oil import, typically sets the reference
of India. The database can be searched by: Chemical
how international markets are moving; where your
unhedged stocks are likely to witness derivatives form a major component in rates for palm oil every month, which is
inventory gains in the near term. various products of bakery and FMCG used to calculate the export duty.
competitors are exporting and at what price; where
Name/Harmonised Code to obtain the consolidated
such as biscuits, cakes, chocolates,
imports are coming from and how their prices are trade (import or export) in that item; or by Country to
The move could soften international
While the government had advised cosmetics, soap and detergents. The rise
moving. Download all this data, seamlessly, for a obtain the trade (import or export) in all chemicals and
the industry players to maintain prices in oil prices is likely to increase the cost CPO prices, which are marginally
related products between India and that country
small fee — online, anytime, with no hassles.
till the availability of lower-duty stocks of production and affect the margins of higher than soybean oil and almost at
(estimated at 45-50 days of consump- these FMCG products unless they take par with sunfl ower oil, contrary to the
ChemXchange
tion), domestic oil prices rose 10-13%, a commensurate price hike. long-term trends where soft oils sell at
Open to all registered users — no subscription required
the very next day of duty hike. CPO a premium to palm.
ChemXchange — the chemical exchange with a difference — is where you can identify your buyers and sup-
prices jumped to Rs. 120/kg and that Reduction in Export Duty by
plyers on-line, any time. This unique platform is free to all advertisers in the print version of Chemical Weekly.
of soyabean oil to Rs. 121/kg on 20 Indonesia could cushion impact on A softening of international
September 2024 as against Rs. 99/kg palm oil prices would cushion the impact of
For more information contact: 022-24044477. Fax: 022-24044450
and Rs. 102/kg respectively, a week Indonesia, the largest palm producer, the duty hike on domestic prices,
Email: corporate@chemicalweekly.com or log on to chemicalweekly.com
earlier. CPO prices are at the highest has slashed export duties by 30% to but policy changes in the produc-
level since July 2022 while soybean $63/tonne effective September 22, ing countries and sustainability of
oil prices are at the highest in the past 2024 to increase its exports. Indonesia, the lower duties remain an important
1.5 years. which accounts for 57% of India’s palm monitorable.
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192 Chemical Weekly November 12, 2024
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