Palmoilmagazine, Misbachul Munif, Sawitfest 2021
Palmoilmagazine – The Government of Malaysia claimed, the country is about to help vegetable oil stakeholders in India to fulfill (crude) palm oil demands for the potential uncertain supply from the main supplier, Indonesia.
As quoted from The Edge Markets, palm oil demands from India could be increasing to be about 800 thousand tons per month for the next six months as Ministry of Plantation Commodity and Industry Malaysia, Datuk Zuraida Kamaruddin said in a statement as quoted from Indian Vegetable oil Producer Association (IVPA).
Vegetable oil becomes the material for many industries in India, used to process kinds of food, bread, snacks, cake, cosmetics, and others. The price rally is managed to be in the companies, local retailers, and eventually to the consumers in much more expensive price.
Agricultural sectors in India gets the impact because about 35% of the fertilizers used are from the imports. The key component in the fertilizers is potassium which the main suppliers are Belarus and Russia. For Russia still attacks Ukraine using Belarus, the fertilizers are getting more expensive. (T2)