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Date: 26/07/2024

Edible oil imports seen up in July

India bought a record amount of edible oils for July delivery as refiners increased palm oil and soyoil purchases due to lucrative prices, according to industry analysts. Edible oil imports are set to jump to a record 1.92 million metric tons, up nearly 26% from a month ago, according to average estimates from the data shared by trade houses. Around 1.45 million tons of edible oils have already been discharged at various ports, including 850,000 tons of palm oil. Palm oil imports in July are expected to jump 45% from a month ago to 1.14 million metric tons, the highest in 20 months, dealers said. Soyoil imports in July are expected to jump 45% from a month ago to 400,000 metric tons, the highest in 13 months, data showed, as per a report.

Source: Exim News Service: New Delhi, July 25