India’s Palm Oil Imports Surge to Four-Month High on Competitive Pricing

Published Jun 14, 2024

Tridge summary

In May, India's palm oil imports surged by 11.6%, reaching a four-month high of 763,300 metric tons due to its price advantage over other oils. This increase was driven by palm oil’s competitive pricing, making it more attractive for Indian buyers. Total vegetable oil imports also rose by 16% to 1.5 million tons. India sources its palm oil primarily from Indonesia, Malaysia, and Thailand, while soyoil and sunflower oil are imported from Argentina, Brazil, Russia, and Ukraine. The stable pricing of palm oil is expected to continue, leading to further increases in imports.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In May, India’s palm oil imports rose by 11.6%, reaching a four-month high of 763,300 metric tons due to its price advantage over other oils. Total vegetable oil imports increased by 16%, with significant shifts in soyoil and sunflower oil imports. Palm oil’s stable pricing made it particularly attractive to Indian buyers. India’s Palm Oil Imports Reach Four-Month High: In May, India’s palm oil imports surged by 11.6% from the previous month, hitting a four-month high of 763,300 metric tons. This increase was driven by palm oil’s competitive pricing compared to rival oils, making it more attractive for Indian buyers. The Solvent Extractors’ Association of India (SEA) reported this rise, highlighting the significant role of price dynamics in shaping import patterns. Impact on Malaysian Palm Oil Futures: The increase in India’s palm oil imports is significant for the global market, particularly supporting benchmark Malaysian palm oil futures. As the world’s largest importer of ...
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.