About Palm Oil price in India and other Palm Oil news

Palm Oil Benefits, Origin & Palm Oil Availability in India during pandemic

What is Palm Oil?

Palm oil is a vegetable oil that is extracted from the flesh of the fruit of oil palm tree, the scientific name being Elaeis guineensis. As Palm oil is semi solid at room temperature, it’s a natural ingredient choice in most table spreads. Palm oil is especially loved as it is a colorless and odourless oil, so it doesn’t change the look or smell of food.

Origin of Palm Oil

Notably, we have been using Palm oil for cooking for almost 5,000 years. Traders brought Oil Palms to Egypt where it was widely used for cooking. European traders occasionally purchased palm oil for use as a cooking oil in Europe. It was very recently, about 100 years ago when Palm tree was brought to South-East Asia, as an ornamental tree.

Malaysia today is one the largest producers and exporters of palm oil in the world.

What is Palm Oil meaning in Hindi?

Palm Oil in Hindi means “Taad ka tel” and is a popular vanaspati oil in our country.

What are the benefits of Palm oil?

Palm oil is regularly used in restaurants and packaged food as this vegetable oil has good resistance to oxidation and heat at prolonged elevated temperatures. This makes palm oil ideal for deep frying purposes. As palm oil is a natural anti-oxidant, food prepared in palm oil has longer shelf life.

Palm oil does have many benefits. They are trans-fat free, supply fatty acids that are needed to keep the body cells healthy and is very rich in Vitamin E, highest amongst all vegetable oils infact. Palm oil is very rich in calories, which in a way benefits the economically weaker sections of our society.

The best benefit of Palm Oil is it being nature’s richest source of carotenoids, which gives Vitamin A – 15 times more than carrots, and 30 times more than tomatoes.

What’s good about Palm Oil?

Wafers, biscuits and other confectionaries fried in Palm oil is particularly loved for its crispiness and crunchy texture. They are free of oily smell.

Contrary to the popular belief, palm oil is actually the most efficient vegetable oil crop to grow. These trees grow on a range of soils with lesser fertilizers and pesticides. Oil Palm bears fruit all year-round, making it an attractive crop. The Palm Oil tree is highly profitable especially for small farmers as high yield of palm oil can continue for almost 30 years.

About Palm Oil price in India & it’s availability during COVID

Palm oil is extensively used in India for cooking, still it remains in news for various reasons. Here are some relevant & authentic latest news updates, source – mpoc.org

Highlights

”As travel, leisure & fine dining have been largely shut due to COVID-19 lockdown in our country, Palm oil consumption had fallen by about 40% leading to a reduction in imports. ”

” Challenges in the transportation of locally grown oilseeds has also contributed to regional imbalances.”

“The sealing of state borders at different locations has impacted the transportation of vegetable oils.”

“To meet the shortfall in supply of domestic soft oils, imports have been stepped up and would yield results gradually. “

“The restriction to import Palm Oil applied to refined Palm Oil, though Crude Palm Oil (CPO) is imported without any restrictions. “

“Incoming ships with vegetable oil cargo are being allowed to offload without hassles. This is in direct contrast to the situation some time ago when importers were cagey about problems if imports were from Malaysia.”

Other Palm Oil News

Our country is a huge importer of Malaysian Palm Oil, hence a reduction in import by India has a cascading effect on the industry, and related smaller industries such as packaging, loading etc in Malaysia.

Further, refineries are not selling forwards till they clear out old commitments. As a result of dip in supply and uncertainty of demand, the current situation of Palm Oil market in India is fragile.

Palm Oil price in India is approximately about RS 110/litre. Bulk crude Palm Oil Rate is updated on a daily basis, to check today’s exact Palm Oil price in India, check here.

Author’s note: This blog is in association with Malaysian Palm Oil Council ( MPOC ) & industry expert Bhavna Shah to create awareness about Palm Oil. Read more on http://www.mpoc.org