Palm Oil Purchases by India Climb as Import Tax Decision Delayed
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Palm oil imports by India, the world’s biggest buyer, increased for a fifth month in November as the government delayed a decision on increasing taxes.
The nation purchased 796,587 metric tons of crude and refined palm oil in November, 3 percent more than the 774,207 tons a year earlier, the Mumbai-based Solvent Extractors’ Association of India said in an e-mailed statement today. Shipments were almost in line with the median estimate in a Bloomberg survey of 800,000 tons.