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Commodity Market, Commodities News Today | The HinduBusinessLine

India could limit sulphur exports as supplies tighten, sources say India turns to US, Oman, Nigeria for LNG imports in March as Qatar, UAE supplies dry up China resumes buying broken rice from India Silver Price Today April 16: Latest rates in Delhi, Mumbai, Kolkata, Chennai & Bengaluru Gold rate today April 16: Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru Indian LNG importers scoop up spot shipments after prices recede Limelight Lab Grown Diamonds targets tier 2-cities with 25 stores in Q1 Crude oil futures edge up despite hopes of US-Iran ceasefire extension ‘Iran war oil shock as disruptive as Covid’ Iran war brings US close to net crude exporter for first time since World War II NAAS suggests govt to consider one-time licensing for imported horticulture hybrids India targets cocoa self-sufficiency by 2040 with national mission and reforms Why is Gold rate surges past $4,850 & Silver crossing $80? Crude unlikely to return to pre-war levels soon; India's import bill may rise $70 billion annually: Report US shuts down Iran’s maritime trade despite optimism for more talks Brent crude edges up ahead of fresh US-Iran talks Global fertilizer supply crunch tightens farm economics Crude oil prices fall for a second day on expectations US-Iran talks may resume Madhya Pradesh CM says basmati rice from the State is exported to 47 nations Russian crude oil imports rebound in March as PSU refiners lift record volumes Oil prices hit record high in March as refiners try to replace West Asian grades: IEA India’s gems and jewellery exports plunge 35% in March on weak demand Inflows into gold ETFs turn positive in past fortnight India’s Russian oil imports surge to €5.3 billion in March on higher volumes Russia restricts helium exports as global supply tightens amid Middle East tensions India’s oil security under pressure as West Asia crisis exposes import dependence risks Fuel price freeze: ₹18/litre loss on petrol, ₹35 on diesel Iran oil hoard at sea shields China’s refiners from US blockade Oil declines as US, Iran weigh more talks; US blockade of shipping to and from Iranian ports in place IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy BALCO deploys AI humanoid agent for real-time training, operations and safety NSE gets MCA approval to launch National Coal Exchange of India Coal stock adequate for 90 days available: Union Coal Minister Kishan Reddy India auctions 46 critical mineral blocks, launches 7th round with 19 more: G Kishan Reddy Iranian crude returns to India after seven years as tankers dock at key ports India's March palm oil imports fall 19% to three-month low Crude oil futures rise as US moves to blockade Iranian ports Gold falls on stronger dollar, fading Fed rate-cut hopes Crude oil jumps 7% to above $100 on US’ maritime blockade on Iran Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector India allows Iranian oil tankers to berth at Sikka port under special exemption US expected to extend waiver for Russian oil imports amid global energy price concerns Sharp fall in prices hit gold ETF inflows in March India to continue buying Russian crude oil Gold futures drop ₹1,363 to ₹1,52,071/10g India targets 30 lakh PNG connections amid LPG supply concerns Crude oil futures rise on Hormuz disruptions, Saudi attack reports Unseasonal rain, hailstorms, may drag Indian wheat output by over 5% No LPG shortage in country, vessels continuously coming to India via Hormuz: Petroleum Secretary Neeraj Mittal Russia offers sanctioned LNG to energy-hungry Asia at a discount Crude oil futures rise after Israeli attacks on Lebanon West Asia Conflict: Natural gas allocation to fertiliser sector upped to 95% Oil and Gas prices plunge after US and Iran agree to a ceasefire US ceasefire may boost LPG, LNG supplies to India in short term Natural Diamond Council celebrates ‘World Diamond Day’ India set to get first Iranian crude oil cargo in 7 years Crude oil futures crashes 6% to hit lower circuit as US-Iran ceasefire cools tensions Gold rises to near three-week high as Trump pauses attacks on Iran India’s green energy drive faces critical minerals hurdle amid global race Oil plunges, stocks surge as US-Iran ceasefire sparks global market rally Freight surge, logjam hurts egg exports despite strong demand Sugar consumption in April may fall by 2 lakh tonnes on cool weather and LPG scarcity Industry body urges Maharashtra to retain inspector-free fertilizer policy Government amends mining rules to boost critical mineral exploration and self-reliance Silver futures decline ₹1,479 to ₹2.31 lakh/kg as geopolitical risks lift inflation outlook IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu India returns to buying Venezuelan crude to ease supply crunch Crude oil futures hit record ₹10,888/barrel; 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APOA welcomes Sri Lanka’s move to lift ban on oil palm cultivation
2026-05-11 · via Commodity Market, Commodities News Today | The HinduBusinessLine

The Asian Palm Oil Alliance (APOA) has welcomed the recent developments in Sri Lanka indicating that the Sri Lankan government is moving towards lifting the ban on oil palm cultivation, subject to final approvals and sustainability safeguards.

A media statement said APOA considers this a positive and pragmatic step towards strengthening edible oil security, supporting rural livelihoods, reducing import dependence, and promoting science-based sustainable agriculture in Asia.

It said that Sri Lanka has continued to import substantial quantities of palm oil despite restrictions on domestic cultivation, while several scientific and industry discussions in recent years have increasingly emphasized the need for evidence-based policy decisions and sustainable production frameworks.

Balanced approach

Quoting Atul Chaturvedi, Chairman of APOA, the statement said the reported move by the Sri Lankan government to reconsider the ban on oil palm cultivation reflects a balanced and forward-looking approach.

“The real challenge today is not prohibition, but ensuring sustainability through science, responsible governance, and stakeholder collaboration. Sustainable palm oil has a vital role in ensuring food security, affordable nutrition, farmer prosperity, and economic resilience across Asia,” he said.

Oil palm is among the most efficient vegetable oil crops globally in terms of productivity per hectare. With appropriate environmental safeguards, traceability systems, and sustainability standards, countries can achieve economic and environmental objectives together. APOA strongly supports responsible and sustainable palm oil ecosystems across Asia, he said.

Emphasising the importance of sustainability-centred growth and regional cooperation, Shatadru Chattopadhyay, Managing Director, Solidaridad Asia, said Asia’s edible oil future must be guided by sustainability, inclusiveness, and scientific evidence. Palm oil is an essential commodity for food systems and livelihoods across the region.

Coexisting with environmental stewardship

“The pathway forward lies in strengthening sustainable production practices, protecting biodiversity, supporting smallholders, and promoting transparent supply chains rather than moving away from the crop itself,” he said.

Sri Lanka now has an opportunity to demonstrate how responsible cultivation models, sustainability frameworks, and stakeholder participation can coexist with environmental stewardship and economic development, he said.

BV Mehta, Secretary General of APOA, said many Asian countries are working towards improving edible oil self-reliance while ensuring sustainability commitments. Sri Lanka’s policy reconsideration reflects the growing realisation that sustainable palm oil must be part of the solution for food security, farmer income enhancement, and economic stability in the region.

The Solvent Extractors’ Association of India and APOA remain committed to facilitating dialogue among governments, researchers, industry stakeholders, civil society organizations, and farmer groups to encourage responsible growth of the palm oil sector based on transparency, sustainability, and shared regional learning, he said.

APOA reiterated that sustainable palm oil production must continue to prioritise responsible land use, environmental protection, biodiversity conservation, smallholder inclusion, traceability and transparency, and climate resilience and sustainable livelihoods.

APOA believes regional collaboration and science-led policymaking will play a critical role in ensuring sustainable edible oil systems for Asia’s future, the statement said.

Published on May 11, 2026