CPO and its derivatives
PalmOilMagazine, DUBAI – The increasing crude palm oil (CPO) price in the world urged the biggest CPO consumer, India to substitute it to be soyoil.
CEO Emami Agrotech Ltd., and the President of India Vegetable Oil Producer Association, Sudhakar Desai said, CPO is not economic one, as he said in a conference in Dubai, as quoted from Bloomberg.
The smallholders in the country should substitute their bean, rapeseed, sunflower, soyoil, and rice bran which are made of rice and wheat. He thought, CPO and its derivative product export ban should be revoked in this May.
For information, to realize the domestic cooking oil at Rp 14.000 per liter, the refinery in Indonesia should get loss about US$ 80 million per month.
Desai predicted, vegetable oil imports in India reached 12,53 million tons in 2021/2022 or smaller than those in 2020/2021 that reached 14 million tons while vegetable oil demands per capita decreased 3% to last year.
CPO imports in India in 2021/2022 could be reaching 7,3 million tons or smaller than those in 2020/2021 which reached 8,83 million tons. Soyoil imports in the country in 2021 - 2022 reached 3,62 million tons or increased compared to those in 2020/2021 which reached 3,13 million tons
Sunflower oil imports in the country in 2021 - 2022 could be reaching 1,5 million tons, or smaller than those in the previous period which reached 1,96 million tons. (T2)