India: Imports of sunflower oil increased by almost 12% in August

Basic moments India's vegetable oil imports rose to 1.87 million tonnes in August, up 33% year-on-year, as falling global vegetable oil prices and concerns over lower domestic oilseed yields boosted demand from the country's largest oilseed industry. world buyer, trade body Indian Manufacturers Association (SEA) said on September 14. “The significant correction in vegetable oil prices, coupled with a strong recovery in demand and threats to import supplies due to the closure of the Black Sea grain deal and potential risk to domestic oilseeds due to less than expected monsoon rains, has led to a sequential increase in vegetable oil imports. " Said Anilkumar Bagani, head of research at Sunvin Group, a Mumbai-based brokerage firm. In the first 10 months of the current 2022-23 marketing year (November-October), India imported 14.12 million tonnes of vegetable oils, up 24% from the same period last year and possibly approaching a record high for annual imports. SEA reports. "We will ...