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Date: 07/02/2025

Palm oil imports plunge in Jan.

India’s palm oil imports in January 2025 plunged to their lowest level in nearly 14 years as refiners replaced the tropical oil with cheaper rival soyoil because of negative refining margins for palm oil. Palm oil imports slumped 46% in January from the previous month to 272,000 metric tons, the lowest since March 2011, according to estimates from dealers. Lower palm oil imports by India, the world’s biggest buyer of vegetable oils, could weigh on benchmark Malaysian palm oil prices, but support US soyoil futures. India imported an average of more than 750,000 tons of palm oil every month in the marketing year that ended in October 2024, says trade body Solvent Extractors’ Association of India. Soyoil imports in January rose 4% from a month earlier to 438,000 metric tons, the highest in seven months, while sunflower oil imports jumped 9.5% to 290,000 metric tons, as per a report.
 
Source: Exim News Service: Mumbai, Feb. 6



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