Festivals lift India's edible oil imports to four-month high in November, dealers say

게시됨 2024년 12월 3일

Tridge 요약

India's edible oil imports in November reached a four-month high due to refiners increasing purchases of palm oil, soyoil, and sunflower oil to meet robust demand during the festival season. Palm oil imports rose 0.5% to 850,000 metric tonnes, and soyoil and sunflower oil imports also increased significantly. This surge in imports is expected to help reduce inventories in producing countries and support benchmark Malaysian palm oil futures. However, December palm oil imports may decrease as the recent price rally has made competing oils more attractive for Indian buyers.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

MUMBAI (Dec 3): India's edible oil imports in November jumped to their highest level in four months as refiners raised purchases of palm oil, soyoil and sunflower oil to replenish inventories after robust demand during festival season, five dealers said. Higher palm oil imports by India, the world's biggest buyer of vegetable oils, would help in bringing down inventories in producing countries and support benchmark Malaysian palm oil futures trading near their highest in over two years. Palm oil imports edged 0.5% higher in November from the previous month to 850,000 metric tonnes, according to estimates from dealers. Festival season demand was good this year, which gave confidence to refiners to buy more to restock, said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage. Indians celebrated the Dussehra and Diwali festivals in October and November, increasing the consumption of sweets and fried food. Soyoil imports in November rose 20% from a month ago to 410,000 ...

출처: Theedgemarkets