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Dealers told Reuters that India’s palm oil imports rose 41% month-on-month in April to the highest level in three months, reaching an estimated 682,000 tons due to loose prices.
Palm oil prices have adjusted to make it more attractive to buyers, with soybean oil and sunflower oil prices around $920 and $945 respectively. Imports are expected to rise by around 700,000 tonnes in May as buyers turn to palm oil.
India mainly purchases palm oil from Indonesia, Malaysia and Thailand, and imports soybean oil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
(Source: Reuters Image source: Unsplash)
