News: Indonesian govt clarified that the export ban announced late last week won’t be applicable to crude palm oil but will only cover shipments of refined, bleached, deodorised (RBD) palm olein.
Views: Almost 70 per cent of the total annual palm oil imported into India estimated to be around 8-8.5 million tonnes is in the crude form while the rest is refined. This would benefit edible oil refiners. The extent of impact on palm oil prices & further on input cost inflation for FMCG companies would be limited.
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