Cooking Oil Imports by India Seen Surging on Palm Oil Plunge
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Cooking oil imports by India, the world’s second-largest user, probably jumped in December after palm oil prices slumped to a three-year low and farmers curbed domestic oilseed sales.
Purchases rose 34 percent to 900,000 metric tons in December from 669,912 tons a year earlier, according to the median of estimates from five processors and brokers compiled by Bloomberg. Imports of crude and refined palm oils probably gained 38 percent to 750,000 tons from 543,830 tons, the survey showed. The Solvent Extractors’ Association of India will publish data next week.