Palm, Soybean Oils Imports by India to Reach Record
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India, the top buyer of vegetable oils after China, may import a record quantity of soybean and palm oils for a fourth year as growing population and incomes increase demand for processed foods, a processors’ group said.
Purchases may climb to 9.5 million metric tons in the year starting Nov. 1, compared with 9 million tons this season, Ashok Sethia, president of the Solvent Extractors’ Association of India, said in a phone interview from Kolkata today.