India’s palm oil imports to hit 5-year low
India’s palm oil imports are set to plunge to a near five-year low in January, hit by negative refining margins as the tropical oil’s premium over rivals drives buyers to more competitively priced soyoil, government and industry officials told.
Lower palm oil imports by the world’s biggest buyer of vegetable oils could weigh on benchmark Malaysian palm oil prices, but support US soyoil futures.
“About 110,000 metric tons of palm oil was cleared in the first half of January, which is a pretty small amount compared to the usual monthly imports,” said a government official, who sought anonymity as he was not allowed to speak to media.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
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