NEW DELHI: India’s palm oil imports rose 14.96% in June from the previous month as the world’s biggest importer of vegetable oils stepped up purchases from Malaysia, Thailand and Papua New Guinea to offset the impact of export curbs imposed by Indonesia.
In June, India imported 590,921 tonnes of palm oil, the most widely consumed edible oil in the country as well as globally, up from 514,022 tonnes in May, Mumbai-based trade body the Solvent Extractors’ Association (SEA) of India said in a statement.
Indonesia, the world’s biggest producer and exporter of palm oil, on April 28 halted exports of the product to control soaring prices at home. Jakarta allowed exports to resume from May 23 but put in place policies to safeguard domestic supplies.
India’s June palm oil imports were in line with the vegetable oil industry’s expectation of a 15% jump in overseas purchases.
The higher palm…
June palm oil imports jump 14.96%
