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Cooking-Oil Imports by India to Decline on Record Stockpiles

Cooking-oil purchases by India, the world’s biggest consumer after China, probably fell for the second straight month in July after refiners slowed purchases to pare domestic stockpiles.

Shipments slid 4.2 percent to 875,000 metric tons last month from 913,179 tons a year earlier, according to the median estimate in a Bloomberg survey of five processors and brokers. Imports of crude and refined palm oils declined to 600,000 tons from 619,322 tons, the survey showed. Purchases dropped 9 percent to 783,315 tons in June, the Solvent Extractors’ Association of India said July 13. The group will publish shipment data for July this week.