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NEW DELHI, Aug 14 — India bought 387,817 tonnes of palm oil from Malaysia in July as the country’s edible oil imports improved.
Its monthly import volumes grew to 1.51 million tonnes in July from 1.16 million tonnes in June, according data released today by the Solvent Extractors’ Association of India.
India’s July palm oil imports were 824,078 tonnes, growing 46.4 per cent from the previous month, while palm oil’s share in edible oil imports was 54 per cent.
The imports from Malaysia were made up of 385,317 tonnes of crude palm oil (CPO) and 2,500 tonnes of crude palm kernel oil (CPKO).
India imported no RBD palmolein last month.
Palm oil demand in the country has suffered due to the Covid-19 pandemic hitting commercial activity, while household consumption of sunflower and soybean oils increased.
The revival in business activity is helping palm oil consumption.
India imports palm oil from Indonesia and Malaysia, while key soft oil suppliers are Brazil, Argentina and Ukraine. — Bernama