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Date: 21/01/2025

Palm oil imports seen plunging to 5-year low in Jan.

India’s palm oil imports are set to plunge to a near five-year low in January, hit by negative refining margins as the tropical oil’s premium over rivals drives buyers to more competitively priced soyoil. About 110,000 metric tonnes of palm oil was cleared in the first half of January, which is a pretty small amount compared to the usual monthly imports. The thin line-up of vessels carrying palm oil at key ports such as Kandla, Haldia and Krishnapatnam over the next two weeks suggests imports could drop to about 370,000 metric tonnes in January. India imported an average of more than 750,000 tonnes of palm oil every month in the marketing year that ended in Oct. 2024, says trade body Solvent Extractors’ Association of India, which is set to publish its January import data by mid-February, as per a report.

source: Exim News Service: New Delhi, Jan. 20