India’s palm oil imports reached a 14-year low in January, dropping 45% from December to 275,241 metric tons. This decline was primarily driven by refiners shifting to cheaper soyoil due to negative refining margins. This shift will pressure Malaysian palm oil prices and boost U.S. soy oil futures. In contrast, soy oil imports rose 5.6%…
Even though shipments into the country climbed by 22% during that time, the palm group of oils remained to dominate the vegetable oil import basket, making up 63% of all imports from November 2022 to March 2023 of the current oil year to October. Data from the Solvent Extractors’ Association of India (SEA) show that…
India’s imports of palm oil in February fell 30% from January to their lowest level in 8 months as refiners decided to reduce their inventories as inventories grew as a result of excessive imports in October-January, five dealers told Reuters on Thursday. The price of palm oil produced in Malaysia could be affected by India’s…
