Malaysian Palm Oil Council Russia's Post

India Demand May Shift to Domestic Edible Oils as Palm Oil Soars

By Pratik Parija
(Bloomberg) -- High palm oil prices will prompt Indian consumers to shift to domestic edible oils or soybean oil, said Sudhakar Desai, CEO of Emami Agrotech Ltd. and president of India Vegetable Oil Producers Association. 

Palm is no longer a cheap oil, he said at a conference in Dubai

Indian farmers should shift to growing peanuts, rapeseed, sunflower, soybeans and ricebran (in that order) from wheat and rice

Indonesia’s ban on palm oil exports will have to be lifted in May

To achieve domestic cooking oil prices of 14,000 rupiah a liter, Indonesian refiners would be losing about $80 million a month

Country’s cost of running biofuel mandates is estimated at $140 million a month

Forecasts from Desai:
India’s edible oil imports seen at 12.53m tons in 2021-22 tons vs 14m a year earlier; per capita edible oil demand to drop 3% y/y

India 2021-22 palm imports seen at 7.3m tons vs 8.83m y/y

India 2021-22 soyoil imports seen at 3.62m tons vs 3.13m

India 2021-22 sunflower oil imports seen at 1.5m tons vs 1.96m

Malaysia 2022 palm output seen at 18.7m tons vs 18.2m

Malaysia 2022 palm end stocks seen at 1.5m tons vs 1.6m y/y

Indonesia 2022 palm output seen at 48.1m tons vs 46.6m tons y/y

Indonesia 2022 palm end stocks seen at 6.95m tons vs 5.4m
By: via Malaysian Palm Oil Council Russia