India's May palm oil imports drop 10% as Indonesia curbs exports
RBD Palm Oil
India
Published Jun 15, 2022
Tridge summary
India's palm oil imports in May fell 10% from a month ago as top producer Indonesia curbed exports of the edible oil, a trade body said on Tuesday. The south Asian country is the world's biggest importer of vegetable oils and lower purchases could weigh on Malaysian palm oil futures. India imported 514,022 tonnes of palm oil in May, down from 572,508 tonnes in April, according to the Solvent Extractors' Association (SEA) of India.
Original content
MUMBAI (June 14): India's palm oil imports in May fell 10% from a month ago as top producer Indonesia curbed exports of the edible oil, a trade body said on Tuesday. The south Asian country is the world's biggest importer of vegetable oils and lower purchases could weigh on Malaysian palm oil futures. India imported 514,022 tonnes of palm oil in May, down from 572,508 tonnes in April, according to the Solvent Extractors' Association (SEA) of India. Indonesia, the world's biggest producer and exporter of palm oil, on April 28 halted exports of the product to control soaring prices at home. Jakarta allowed exports to resume from May 23, but put in place policies to safeguard domestic supplies. Indian refiners in May sourced more palm oil from Malaysia, Thailand and Papua New Guinea, but still the overall imports were down, the SEA said. "In June palm oil imports could rise above 600,000 tonnes as Indonesia has started giving export permits," a Mumbai-based dealer with a global ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.