India in April increased imports of palm and soybean oil, but reduced the purchase of sunflower

Published May 16, 2024

Tridge summary

In April, India experienced a significant increase in edible oil imports, with palm oil rising by 40.9% to 684,094 thousand tons and soy oil by 76.4% to 385,514 thousand tons, reaching a 3-month high. Conversely, sunflower oil imports saw a decrease of 47.3% to 234,801 thousand tons. This surge in imports contributes to an overall 13% growth to 1.3 million tons in April. The prices for crude palm oil, soybean oil, and sunflower oil for June delivery are reportedly $920/t CIF, $920/t, and $945/t respectively. India's main suppliers for palm oil are Indonesia, Malaysia, and Thailand, while soybean and sunflower oil are sourced from Argentina, Brazil, Ukraine, and Russia.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Association of Oil Producers SEA, against the backdrop of low prices for palm oil, India increased its imports in April by 40.9% compared to March to a 3-month high of 684,094 thousand tons, and soy oil by 76.4% to 385,514 thousand tons , reducing the import of sunflower oil by 47.3% to 234,801 thousand tons. The total import of edible oils in April grew by 13% to 1.3 million tons. Crude palm oil (CPO) is being offered for delivery in June at a price of $920/t CIF (including insurance and freight), soybean oil at $920/t, and sunflower oil ...

Source: Graintrade