India's 2022 palm oil imports to fall, but soy, sunflower oil seen up

KUALA LUMPUR: India's total imports of oils and fats in 2022 are projected to decline by 2% from the year before to 13.8 million tonnes, with shipments of palm oil likely to see the biggest fall, the Malaysian Palm Oil Council said on Thursday.

The drop is due to India's rising domestic edible oil production and as a resurgence in coronavirus infections triggers fresh lockdowns, MPOC chief executive officer Wan Aishah Wan Hamid said in a conference.

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India's palm oil imports are seen declining to 8.1 million tonnes in 2022, down from 8.5 million tonnes last year, she said. Both India's 2022 soyoil and sunflower oil imports were seen rising by 100,000 tonnes.