Palm Oil

Palm Oil

Context: India’s March palm oil imports drop to 10 month low as sunoil jumps.

Keypoints:
• Drop in Palm Oil Imports in March
• Indias palm oil imports in March experienced a significant decline compared to previous months.
• The drop in imports was mainly attributed to a decrease in shipments of sunflower oil from Ukraine and Russia.
• The reduction in palm oil imports was influenced by a shortage of ships and containers.
• Indias domestic edible oil prices also rose due to lower imports, impacting consumer demand.
• March palm oil imports stood at around 608,454 tonnes, lower than 735,605 tonnes in February and 874,672 tonnes in January.
• Sunflower oil imports from Ukraine and Russia declined sharply to about 99,824 tonnes in March from 319,757 tonnes in February.