In January last year, the duty difference between CPO and refined, bleached and deodorised (RBD) palm oil/RBD palm olein was reduced to 5%, creating a surge in imports of refined palm oil and palm oilein by traders in India, thereby severely impacting the Indian refining capacity utilisation. Last year, the refining margins were zero to negative and the refining industry in India fell into deep crisis. India has nearly 400 economically-viable privately-owned edible oil refineries, of which many have not been refurbished or upgraded with new technologies, hence their operating margins are minimal.
Posted on: Thu, 16 Jan 2014 07:00:10 +0000
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