Lower global prices increases palm oil import by 23%
Aadhira Anandh | The Dollar Business India’s palm oil imports in June have gone up by 23% from the year earlier. Last year the palm oil exports was 4,931, 085 tonnes, while this year the import has gone up to 734, 358 tonnes thus lifting the vegetable oil import in the month by 15%. The Solvent Extractors Association in a statement said that the rise in import is on the account of lower global price. Palm oil makes up 70% of the country’s vegetable oils import and over 60% of the demand for the vegetable oil market in India is met through imports. “We largely import palm oil because of the increasing demand and also for better quality. In India, the quality ...
