Latest news with #SEA
Indian Express
12 hours ago
- Business
- Indian Express
Kandla port congestion may cause edible oil shortage: Traders to Govt
Traders have warned of edible oil shortages in local markets and supply disruptions as several vessels — mainly carrying Indonesian crude palm oil — remain stranded at Kandla Port, awaiting cargo unloading amid 'heavy congestion'. India is the world's largest importer of palm oil, with monthly imports totalling 750,000 tonnes. Kandla is a key port that supplies major refineries catering to western and northern India. In letters to the government, the Solvent Extractors' Association of India (SEA), representing key stakeholders in the edible oil industry, has said that only two vessels with a combined capacity of 45,000 tonnes are currently discharging cargo, while as many as eight vessels carrying 157,000 tonnes — are waiting for berths. The congestion is particularly concerning as five more vessels, with a total capacity of 159,000 tonnes, are expected to arrive within the next week, it has said. When contacted, Sushil Kumar Singh, Chairman of Deendayal Port Authority (DPA), Kandla, told The Indian Express: 'The congestion is the result of a sudden surge in edible oil vessel arrivals after import duties were reduced in May. At present, six edible oil and six chemical vessels are waiting at anchorage. The average waiting time is 8-10 days. We've tightened operational protocols and are working to address the issue as efficiently as possible.' This comes amid sharp fluctuations in palm oil prices. Traders typically increase purchases when prices drop. Last month, India's palm oil imports hit a six-month high, driven by low domestic inventories and a favourable price gap compared to soybean and sunflower oils, Reuters reported. However, palm oil futures have since surged following the US's proposal to raise biofuel blending mandates. The SEA has warned that the waiting period could increase to 15–20 days, based on the expected vessel line-up. Such prolonged delays 'could lead to a scarcity of edible oil in the local market, impacting the supply chain,' it has said. 'The situation has further deteriorated, as Kandla Port has resorted to pulling out edible oil vessels mid-discharge. In the past week alone, three such vessels — each with just 1,000 to 3,000 tonnes of cargo remaining — have been withdrawn or shifted from berths,' the SEA said in a letter to the Ministry of Consumer Affairs, Food and Public Distribution on June 16, following up on an earlier communication sent on June 11. The congestion has wide-reaching implications as the extended waiting periods are incurring significant demurrage costs, thereby increasing overall import expenses and pushing up edible oil prices for consumers. Jitendra Srivastava, CEO of Triton Logistics & Maritime, said the congestion of shipments at Kandla Port reinforces the need to upgrade India's port infrastructure and optimise maritime logistics at the earliest. 'With vessel wait times reaching up to 48 hours, the ripple effects are felt across the entire supply chain, from exporters to consumers. As trade volumes continue to escalate, there is a pressing need for ports across the country to incorporate smart technologies, automate, and improve berthing and cargo handling capabilities to sustain future demand,' Srivastava said. 'Principal solutions include improved vessel traffic control, enhanced inter-agency coordination, and investment in technological aids such as predictive analytics to enable more effective port flow management. Upgrading berths, modernising the container terminal, and developing warehousing space are equally important to avoid bottlenecks and achieve faster turnaround times,' Srivastava said. 'As per port norms, any vessel pulled out for any reason can only be re-berthed after three days – which, in practice, can take 3-5 days — along with additional port charges for de-berthing, re-berthing, pilotage and other marine services. Meanwhile, the vessel accrues demurrage by the hour and once under demurrage, it continues to incur charges. Ironically, this practice does little to ease the congestion,' SEA said. Total oil imports have fallen over the past seven months. Between November 2024 and May 2025 — the first seven months of the 2024–25 oil year — vegetable oil imports stood at 7,884,768 tonnes, down 9 per cent from 8,678,447 tonnes during the same period last year, SEA noted. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
Web Release
a day ago
- Entertainment
- Web Release
Step Into the World of Bar Dali – Maison Dali's New Cocktail Bar
By nightfall, Maison Dali transforms – hidden within the iconic curves of The Opus by Dame Zaha Hadid, Bar Dali emerges as a dreamscape of surrealist mischief, inventive cocktails, and cinematic storytelling. A new chapter in Maison Dali's ever-evolving narrative, Bar Dali is a nocturnal reverie – a velvet-draped hideaway where Salvador Dalí's whimsical spirit meets modern mixology, and each detail beckons the curious to stay and explore. Designed by Culinary Arts Group, led by award-winning Chef Tristin Farmer and Beverage Director Vitor Hugo Lourenço, Bar Dali is not simply an extension of Maison Dali – it is a destination within a destination. Step beyond the red carpet, past flickering lights and plush interiors, and you enter an atmosphere where theatricality and taste collide. Sculptural seating, mischievous art installations and softly glowing shadows conspire to pull guests deeper into the story. Here, cocktails become the conversation. Inspired by the immersive worlds of the Arte Museum, Vitor's signature BARTENDER menu for Bar Dali features 10 visionary creations, each a liquid vignette. Discover SYMPHONY, delicate and floral; LUNAR, peated and umami-rich; and DEEP SEA, dark, elegant, and timeless. Each cocktail is both a visual and flavour performance – artful, expressive, and unexpected. Complementing the libations is a curated selection of bold bites and elevated handrolls. Chef Tristin Farmer reimagines bar dining through a lens of global playfulness and finesse. Savour small plates like Wagyu Hashbrowns and Crispy Truffle Mochi, or linger with indulgent rolls like Unagi & Foie Gras and Smoked Caviar & Wasabi – each bite a story, each dish an exclamation. As night falls deeper, Bar Dali's energy hums with sensuality and rhythm. A soundtrack of curated beats animates the space, transforming every visit into a mood – a whisper, a laugh, a spark. This is not a bar. This is Bar Dali – a secret unveiled after dark, where nothing is quite what it seems and everything is designed to delight. Red Passion Hour An ode to aperitivo hour, Red Passion Hour invites guests to unwind every weekday from 5 PM to 7 PM. With a line-up of seductive Campari-forward classics – including the Classico Negroni, Garibaldi, Boulevardier, and Mezcal Negroni – as well as bold G&Ts and the ever-bold Americano, each sip is a toast to the surreal. Priced from AED 45, this golden hour ritual is your first glimpse into Bar Dali's world of bold flavour and visual fantasy. Red Passion Hour Offering: Selection of cocktails priced at AED 45 each Red Passion Hour Operating Hours: Monday to Friday from 5 pm to 7 pm Bar Dali Operating Hours: Monday to Thursday from 6 pm to 12:30 am & Friday to Saturday 6 pm to 1:30 am *For reservations and more information, please email [email protected]?or call 04 257 9554
Yahoo
4 days ago
- Yahoo
Police, MariBank foil fraudsters' attempt to scam woman of $149,000
SINGAPORE - A 55-year-old woman almost lost $149,000 through a ruse, after she received a call in May claiming that her credit card was misused. The caller, who posed as a bank officer, claimed that the card had been used for unauthorised purchases in China, the police said in a news release on June 10. When the woman denied making any such transactions, she was transferred to another scammer impersonating a police officer, they said. The fake officer claimed she was a suspect in a money laundering investigation and threatened her with a 60-day detention if she failed to cooperate. Complying with the scammers' instructions, the woman transferred more than $49,000 to a MariBank account they provided details of on May 24. MariBank is a digital bank owned by shopping platform Shopee's parent company, Sea. The woman was falsely assured that the transfer would not affect her account balance, the police said. However, MariBank flagged the transaction as suspicious and promptly alerted the police's Anti-Scam Centre (ASC). ASC officers then convinced the victim that she had been scammed. The transferred funds were later recovered and the potential loss of another $100,000 was prevented, the police added. For more information on scams, visit or call the ScamShield hotline on 1799. Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
Time of India
12-06-2025
- Business
- Time of India
India's May palm oil imports surge 84% m/m to hit six-month high
India's palm oil imports jumped to a six-month high in May, driven by low inventories and the tropical oil's price discount to rival soyoil and sunflower oil, which prompted refiners to boost purchases, an industry body said on Thursday. Higher imports of palm and soyoil by India, the world's biggest buyer of vegetable oils, could support Malaysian palm oil prices and U.S. soyoil futures. Palm oil imports rose 84 per cent in May from April to stand at 592,888 metric tons, the highest since November 2024, the Solvent Extractors' Association of India (SEA) said. India imported an average of more than 750,000 tons of palm oil each month during the marketing year that ended in October 2024, the SEA said. Imports of soyoil increased 10.4 per cent to 398,585 tons, the highest since January, and sunflower oil imports rose 1.9 per cent to 183,555 tons, it added. Higher imports of palm oil and soyoil lifted India's total vegetable oil imports in May by 33 per cent from a month before to 1.19 million tons, the highest since December, it said. Below-average imports from January to April reduced domestic vegetable oil stocks to 1.33 million tons by June 1, the lowest since July 2020, according to SEA data. Palm oil imports are likely to increase further in June and could rise to about 850,000 tons, as the oil is trading at a discount to soyoil, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. Soyoil imports in June will hold steady around 400,000 tons, Patel said. India buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine. Vegetable oil imports are expected to pick up in the coming months as this month's duty cut will help boost demand, said a New Delhi-based trader. India halved the basic import tax on crude edible oils to 10 per cent in a bid to reduce food prices and help the domestic refining industry.
Time of India
12-06-2025
- Business
- Time of India
India's May palm oil imports surge 84% m/m to hit six-month high
India's palm oil imports surged to a six-month peak in May, driven by attractive pricing compared to soyoil and sunflower oil, alongside dwindling inventories. This surge propelled overall vegetable oil imports to 1.19 million tons, the highest since December. Anticipated increased palm oil imports in June, potentially reaching 850,000 tons, are expected due to the continued price advantage. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's palm oil imports jumped to a six-month high in May, driven by low inventories and the tropical oil's price discount to rival soyoil and sunflower oil, which prompted refiners to boost purchases, an industry body said on imports of palm and soyoil by India, the world's biggest buyer of vegetable oils, could support Malaysian palm oil prices and U.S. soyoil oil imports rose 84% in May from April to stand at 592,888 metric tons, the highest since November 2024, the Solvent Extractors' Association of India (SEA) imported an average of more than 750,000 tons of palm oil each month during the marketing year that ended in October 2024, the SEA of soyoil increased 10.4% to 398,585 tons, the highest since January, and sunflower oil imports rose 1.9% to 183,555 tons, it imports of palm oil and soyoil lifted India's total vegetable oil imports in May by 33% from a month before to 1.19 million tons, the highest since December, it imports from January to April reduced domestic vegetable oil stocks to 1.33 million tons by June 1, the lowest since July 2020, according to SEA oil imports are likely to increase further in June and could rise to about 850,000 tons, as the oil is trading at a discount to soyoil, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. Soyoil imports in June will hold steady around 400,000 tons, Patel buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and oil imports are expected to pick up in the coming months as this month's duty cut will help boost demand, said a New Delhi-based halved the basic import tax on crude edible oils to 10% in a bid to reduce food prices and help the domestic refining industry.
