The Palm Scribe

India’s palm oil imports could jump to record as prices fall

The Jakarta Post, 19 March 2019

GG Patel & Nikhil Research Company Managing Director Govindbhai Patel told Reuters that India’s palm oil imports in the 2018-2019 marketing year that started on November 1 could jump 10.3% from the previous year to a record high 9.6 million metric tons, as a sharp fall in the prices made the tropical oil more attractive for buyers than rival soy oil and sunflower oil. Malaysian palm oil futures fell to 2,038 ringgit ($499.82) per metric ton on Friday (March 15), the lowest in three months, due to weak demand and ample supplies.

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