NEW DELHI: India’s palm oil purchases in November saw a big jump to reach 75 per cent of the country’s overall monthly edible imports.
Its imports from Malaysia totalled 318,825 tonnes and included 283,425 tonnes of crude palm oil (CPO), 29,900 tonnes of RBD palmolein and 5,500 tonnes of crude palm kernel oil (CPKO).
India imported 1.14 million tonnes of palm oil in its overall edible oil imports of 1.52 million tonnes during the month, according to data released by the Mumbai-based Solvent Extractors’ Association of India (SEA) on Wednesday.
Overall CPO imports at 931,180 tonnes in November were the highest-ever recorded during a month.
In October, India imported 756,745 tonnes of CPO and 127,949 tonnes of RBD palmolein.
The Indian trade group said the current duty difference of 7.5 per cent between the import tax rates on CPO and refined palm oil products is fuelling imports of RBD palmolein from Malaysia and Indonesia.-Bernama
