Ukraine: Exports of sunflower oil have increased, thanks to increased demand from India and Spain

In May, compared to April, India increased imports of edible oils by 15% to 1.5 million tons, in particular palm oil by 12.4% to a 4-month high of 769,000 tons thanks to a drop in its prices, and sunflower oil by 74% up to 408,000 tons, as several vessels were already unloaded in May due to port congestion in April. At the same time, the import of soybean oil decreased by 16.5% to 322,000 tons. This is reported by GrainTrade. According to dealers, the price of imported crude palm oil (CPO) is $948/t CIF (including cost, insurance and freight), while soybean oil is being offered at $1,028/t and sunflower oil at $1,035/t CIF. It is noted that the increase in the import of palm oil was facilitated by the increase in the margin for the purchase of refined palm oil, due to which its import in May increased compared to April from 124.2 to 214 thousand tons. Experts expect that in June India will import about 750 thousand tons palm oil. Data from the Indian Manufacturers Association ...