Palm Imports by India Expanding as Crop Delay Cuts Reserves
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Palm imports by India, the world’s largest consumer, probably climbed in October as a delay in the oilseed harvest reduced cooking oil stockpiles to the lowest level in nine months.
Shipments of the main crude and refined palm oils advanced 14 percent to 710,000 metric tons from 620,385 tons a month earlier, according to the median of estimates from five processors and brokers compiled by Bloomberg. Total vegetable oil imports, including those for industrial use, rose 10 percent to 950,000 tons, the survey showed. The Solvent Extractors’ Association of India will release the data this week.