India's palm oil imports could fall to 11-year low

  • 25-May-2022
  • India's palm oil imports could fall to 11-year low

India's palm oil imports could fall 19% to the lowest level in 11-years as soyoil, now cheaper, takes more market share because of Indonesia's curbs on palm oil exports and New Delhi's move to allow duty-free imports of soyoil, dealers said.

Lower palm oil purchases by the world's biggest vegetable oil importer could put pressure on Malaysian palm oil prices and may lift soyoil imports to record highs and support U.S. soyoil futures prices.

India's palm oil imports in the 2021/22 marketing year, ending on Oct. 31, could fall to 6.7 million tonnes, the lowest since 2010/11, according to the average forecast from five dealers.

Soyoil imports in the year could jump 57% from a year before to a record 4.5 million tonnes, they said.

India on Tuesday allowed duty-free imports of 2 million tonnes each of crude soyoil and crude sunflower oil for the current and next fiscal years, ending March 31, as part of efforts to keep a lid on local edible-oil prices.

Source : economictimes.indiatimes.com

Seair is proud to have a loyal customer base from big brands.

We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients:

Get a free Import-Export data demonstrative report on desired products.

We don’t offer any assistance over buying or selling any products.

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Copyright © 2009 - 2022 www.seair.co.in. All Rights Reserved.