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India palm oil imports jump 18.3 per cent in July

Last update: 14/08/2019
NEW DELHI, Aug 14 (Bernama) -- India imported 18.3 per cent more palm oil in July 2019 compared with June 2019, according to the monthly data released by the industry group, Solvent Extractors’ Association of India (SEA) today.

It said the country’s palm oil imports rose to 812,805 tonnes during the month compared with 686,886 tonnes previously.

Overall, its monthly edible oil imports jumped 26 per cent to 1.34 million tonnes in July from 1.07 million tonnes in the preceding month.

SEA said palm oil prices in the international market have dropped between 10 and 16 per cent in the last 12 months, boosting Indian purchases of palm oil products.

Malaysia and Indonesia are India's top sources of palm oil, which is mainly used for cooking.

In the first five months of this year, India imported 2.16 million tonnes of palm oil from Malaysia, an increase of 76 per cent over the corresponding period in 2018, according to the Malaysian Palm Oil Council (MPOC).


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