World more dependent on Latin American soybeans

The global soybean market will become increasingly dependent on South American supplies in coming months, following a lower-than-expected U. S. soybean crop, Hamburg-based oilseeds analysts Oil World said Nov. 4. The U. S. Department of Agriculture on Oct. 28 reduced its forecast of the U. S. soybean crop by 1.5 per cent in an unprecedented

India considers oil import tax

India is considering to tax vegetable oil imports to protect the domestic industry from a slump in prices and lift a ban on exports, the farm minister said Oct. 19. Sharad Pawar also said the government would consider scrapping an export tax of 8,000 rupees (US$162.30) per tonne on basmati rice. “Global edible oil prices