Mumbai
The south Asian country is the world’s biggest importer of edible oils, and lower purchases of palm oil could weigh on Malaysian palm oil prices. Higher soyoil imports could support US soyoil prices. The country imported 643,994 tonnes of palm oil in September, down from 879,947 last year, the Solvent Extractors’ Association of India (SEA) said in a statement.
India’s soyoil imports last month stood at 316,232 tonnes, while sunflower oil imports plunged 47% to 66,783 tonnes from a year-ago period, it said. India buys palm oil from Indonesia and Malaysia, and other oils, such as soyoil and sunflower oil, from Argentina, Brazil, Ukraine and Russia.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android