India's Dec palm oil imports drop, soft oils rise

  • 1/12/2022
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MUMBAI, Jan 12 (Reuters) - India"s palm oil imports in December fell from a year ago as a steep rally in prices reduced its discount to rivals, prompting refiners to increase imports of soyoil and sunflower oil, a leading trade body said on Wednesday. The country imported 565,943 tonnes of palm oil in December, down 27% from a year earlier, while soyoil imports jumped 22% to 392,471 tonnes, the Solvent Extractors" Association of India said in a statement. Sunflower oil imports stood at 258,449 tonnes, up 10%, the trade body said. India buys palm oil from Indonesia and Malaysia, with soyoil mainly imported from Argentina and Brazil. It purchases sunflower oil from Russia and Ukraine.

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