New Delhi: India’s palm oil imports touched 4-month high in December. India’s December palm oil imports rose 1.9% from the previous month to 886,000 metric tons. Refined palm oil imports in the month surged 47% to 252,000 tons.
Soyoil imports in December rose 1.4% from a month earlier to 152,000 tonnes. Sunflower oil imports in December more than doubled to stand at 263,000 tons, the highest in 3-months. Higher palm oil and sunflower oil imports lifted India’s total edible oil imports to 1.3 million metric tons, up 13.3% from a month earlier.
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India imports about 56% of its total annual edible oil consumption of around 24 to 25 MT. In terms of share in domestic output, the share of oils includes mustard (40%), soybean (24%), and groundnut (7%) among others. India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
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