Ukraine: Imports of sunflower oil to India decreased by 19% in January due to Houthi attacks on ships in the Red Sea

India’s palm oil imports fell to a three-month low in January as refiners increased purchases of rival soybean oil due to negative crude palm oil (CPO) refining margins, five dealers told Reuters on Monday. Reduced purchases by the world’s biggest importer of vegetable oils could lead to higher palm oil inventories at top producers in Indonesia and Malaysia and put pressure on futures. Palm oil imports in January fell 12% from the previous month to 787,000 metric tons, dealer estimates showed. Crude palm oil imports fell 16% to 541,000 metric tons last month, they said. Palm oil imports declined primarily due to a significant reduction in CPO purchases as processors saw large negative margins over refined bleached deodorized palmolein (RBD), said Rajesh Patel, managing partner of edible oil trader and broker GGN Research. “Imports of soybean oil increased as prices were highly competitive compared to palm products and refining margins were in positive territory,” he said. Soybean ...