Palm Oil Imports in India Increased 18,7% in March 2022

Doc. InfoSAWIT
Palm Oil Imports in India Increased 18,7% in March 2022

InfoSAWIT, MUMBAI – Palm oil imports in India increased 18,7% in March 2022 compared to the previous month because the traders staretd to secure the alternative oil from sunflower oil which cannot be from Ukraine, as an advance trade agency told, Wednesday (13/4/2022).

The increasing palm oil purchase by India’s traders was positive to CPO price at Bursa Malaysia Derivative Exchange.

As InfoSAWIT quoted from Reuters, in Maret India did import 539.793 tons of palm oil or increased from February that reached 454.794 tons, as Solvent Extractors' Association of India (SEA) noted on a report.

India did also import about 212.484 tons of sunflower oil in March 2022, increased from February which reached 152.220 tons. This happened for some ships left Ukraine before the war happened, SEA noted.

But it is predicted, sunflower imports in April would be reaching 80 thousand tons because there is no more delivery from Ukraine, the imports could be from Russia and Argentina only.

Still from Reuters, India bought 45 thousand tons of sunflower oil from Russia in a very expensive price because the local vegetable oil gets more expensive and Ukraine stopped supplying. (T2)