InfoSAWIT, MUMBAI – As a matter of fact, soybean oil imports in India decreased to be 299.421 tons in March 2022. The numbers were lower than in February which reached 376.594 tons.
Solvent Extractors' Association of India (SEA) mentioned, Brazil and Argentina are in limited surplus of soybean. In the past several months, the traders of India tried to get soybean from others, such as, the United States of America (USA) and Germany. “But the countries cannot export in bigger volume,” a trader in Mumbai mentioned.
Data SEA showed, India imported soybean oil for about 112.576 tons from USA in the first five months of 2021/2022 which ended on 31 October, as InfoSAWIT quoted from Reuters.
For the limited suflower and soybean oil, India has no option besides importing more than 600 thousand tons of palm oil in April, the trader mentioned.
India would buy palm oil from Indonesia and Malaysia; and soybean from Argentina and Brazil. (T2)