India's April palm oil imports surge 82pc y/y, trade body says
- The country imported 701,795 tonnes of palm oil last month, while soyoil imports fell by 21% to 144,020 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement.
- Sunflower oil imports dropped 18% to 184,097 tonnes in April after prices more than doubled in a year, it added.
MUMBAI: India's imports of palm oil imports jumped 82% in April on the year as refiners stepped up purchases of the tropical oil to reduce imports of expensive soyoil and sunflower oil, a trade body said on Wednesday.
The country imported 701,795 tonnes of palm oil last month, while soyoil imports fell by 21% to 144,020 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement.
Sunflower oil imports dropped 18% to 184,097 tonnes in April after prices more than doubled in a year, it added.
India buys palm oil from Indonesia and Malaysia while other oils, including soyoil and sunflower oil, are sourced from Argentina, Brazil, Russia and Ukraine.
Palm oil imports showed a big jump in April from a year ago as a complete lockdown last year hit imports in April 2020, the SEA said.
Indian edible oil refiners are curtailing palm oil imports for May and June as most states have imposed curbs on hotels and restaurants to limit coronavirus infections, denting institutional demand, industry officials have said.
India's virus deaths crossed a quarter million on Wednesday in the deadliest 24 hours since the pandemic began, as the disease rampaged through the countryside, overloading a fragile rural health network.
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