The supply of sunflower oil to India was the lowest in 17 months
India increased its vegetable oil imports by 13% last month, to 1.13 million tons, market sources told Reuters on Monday. They claim that the increase occurred against the backdrop of more active purchases of palm oil, the import of which increased by 22%, to 867 thousand tons – the highest value since the beginning of autumn.
Sandeep Bajoria, CEO of Sunvin Group, said that palm oil was actively bought due to its more attractive price compared to sunflower and soybean oil.
According to Reuters, imports of soybean oil in November increased by 7% to 145 thousand tons compared to October. Sunflower oil supplies were the lowest in 17 months – 122 thousand tons (-21% for the month).
The main suppliers of palm oil to India are Indonesia, Malaysia and Thailand. Soybean oil is mainly purchased by traders from Argentina and Brazil. Sunflower oil – from Ukraine and Russia.
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