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Date: 17/10/2024

Palm oil imports dip in Sept.
 
India’s palm oil imports in September 2024 fell by nearly a third compared to the previous month, hitting a six-month low as a surge in tropical oil prices made it more expensive than rival oils, forcing refiners to postpone purchases, according to dealers. Palm oil imports fell 34% in September from the previous month to 530,000 metric tons, according to estimates from dealers. Palm oil typically trades at a discount to soft oils, but it is currently being offered at a premium over the soft oils for October shipments. In mid-September, India raised the basic import tax on crude and refined edible oils by 20 percentage points. Soyoil imports in September fell 15% from a month ago to 388,000 metric tons, while sunflower oil imports plunged 49% to 145,000 metric tons, the lowest in 10 months, said a report.
 
Source: Exim News Service: New Delhi, Oct. 16
 



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