India to resume refined palm olein imports from Indonesia
Indian palm oil imports from Indonesia rising since 4Q 2019
India has approved import licenses for 1.1 million mt of refined palm olein from Indonesia. The Indian Ministry of Commerce and Industry issued a notification in January amending the import status of refined palm oil and olein from “Free” to “Restricted”. The move prompted traders to obtain permission from the Directorate General of Foreign Trade to import refined palm olein. (Reuters) The Solvent Extractors’ Association of India has objected to the move, as it would hurt the domestic refining industry. India has been importing more palm oil from Indonesia since 4Q 2019, due to political tensions with Malaysia. Slightly more than half of India’s palm oil imports came from Indonesia last year. A resumption in refined palm olein imports by India could support the Straits/India freights.