What is Crude Palm Oil?

Crude Palm Oil

About Crude Palm Oil

What is Crude Palm Oil?

Crude Palm oil is an edible oil derived from pulp of oil palms. It is naturally reddish in colour as it contains high amounts of beta-carotene. Its scientific name is Elaeis guineensis.
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Uses of crude palm oil
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Palm Oil is used for cooking and largely in South East Asia. Besides cooking purposes and food products, Palm Oil and derivatives known as fractions of the oil are used in the manufacture of pre-packaged food, cosmetics, cleaning products, hair care, soaps and personal care items. Palm Wax is used in the manufacture of candles. It is also used to manufacture bio fuel for motor vehicles, shipping and aircraft fuel and one of its by-products is glycerin.
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Major producers of palm oil
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Indonesia and Malaysia are the major producing and exporting nations of palm oil. 85% of the world’s crude palm oil comes from Indonesia and Malaysia. Adverse weather conditions for palm output have an effect on the prices. Wide fluctuations in the currencies of Indonesia and Malaysia also affect palm prices. During periods of dry spells or heavy rainfall resulting in flooding, palm oil production would be affected and subsequently prices as well.
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India is one of the major importers of Crude Palm Oil and Mumbai is one of the major trading centers. The largest derivatives market for Crude Palm Oil is Bursa Malaysian Derivatives. It is traded in the commodity futures market on MCX and NCDEX in India.
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The versatility of palm oil is perhaps the key contributor to its value, hence the growth of the palm oil cultivation industry.
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Latest Updates on Crude Palm Oil

'Edible oil imports down 16% to 1.30 mn tonnes on lower palm oil shipments'

2 min read Last Updated :Jan 12 2024 | 3:56 PM IST
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Palm oil imports jump 29% to 9.08 mn tonnes in Nov-Sept of 2022-23: SEA

3 min read Last Updated :Oct 13 2023 | 5:09 PM IST
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Indonesia may strive to corner 60% of India's palm oil markets: Official

4 min read Last Updated :Sep 23 2022 | 12:04 AM IST
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Edible oil imports surge 35% in Aug as share of Russia, Argentina rises

3 min read Last Updated :Sep 14 2022 | 12:44 PM IST
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Govt slashes base import price of palm oil; raises rate of soyoil

1 min read Last Updated :Jun 01 2022 | 8:41 AM IST
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Decoded: What is windfall tax on oil companies and where does India stand?

4 min read Last Updated :Jun 01 2022 | 6:03 AM IST
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Indonesian crisis could spur focus on boosting local edible oil production

8 min read Last Updated :May 09 2022 | 11:30 PM IST
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Indonesian palm oil export ban a concern but impact to be transitory: FMCGs

4 min read Last Updated :May 01 2022 | 4:52 PM IST
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Indian edible oil mkt relieved, Indonesia not to ban crude palm oil export

3 min read Last Updated :Apr 26 2022 | 2:02 AM IST
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India's bulk diesel buyers rush to cheaper retail outlets after price hike

2 min read Last Updated :Mar 21 2022 | 3:00 PM IST
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Palm oil becomes costliest vegoil as Ukraine war halts sunoil supply

2 min read Last Updated :Mar 01 2022 | 3:08 PM IST
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Duty cut could lift India's refined palm oil imports, dent CPO purchases

2 min read Last Updated :Dec 22 2021 | 2:42 PM IST
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Display edible oil prices; act against hoarding: Centre tell states

5 min read Last Updated :Sep 11 2021 | 1:43 AM IST
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Why did previous attempts to boost domestic oil palm production fail?

4 min read Last Updated :Aug 20 2021 | 4:05 PM IST
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Why traders are upset over govt response to rising pulse,edible oil prices

6 min read Last Updated :Jul 14 2021 | 7:47 PM IST
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India cuts crude palm oil import tax, potentially boosting imports

2 min read Last Updated :Jun 30 2021 | 1:33 AM IST
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Budget: Edible oil industry welcomes agriculture development cess

2 min read Last Updated :Feb 01 2021 | 9:24 PM IST
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Govt cuts import duty on crude palm oil to 27.5% effective Nov 27

2 min read Last Updated :Nov 26 2020 | 8:20 PM IST
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India cuts import tax on crude palm oil to 27.5% as food prices rise

2 min read Last Updated :Nov 26 2020 | 8:14 PM IST
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Industry association urges govt to allow import of only crude palm oil

2 min read Last Updated :Aug 20 2020 | 9:12 PM IST
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