MUMBAI (Reuters) – India’s March palm oil imports jumped 57% year-on-year as refiners increased purchases of tropical oil to cut costly sunflower oil imports, an organization said Thursday commercial.
The country imported 526,463 tonnes of palm oil last month, while soybean oil imports fell 3% to 284,200 tonnes, the Indian Solvent Extractors Association (SEA) said in a report. communicated.
The country’s sunflower oil imports halved to 146,970 tonnes in March after prices more than doubled in a year, he added.
India buys palm oil from Indonesia and Malaysia, while other oils including soybean oil and sunflower oil come from Argentina, Brazil, Ukraine and Russia.
India’s surge in edible oil imports could be brought under control in the coming months thanks to a record rapeseed mustard crop, SEA said.
Reporting by Rajendra Jadhav; Edited by David Goodman