Cooking Up a Storm—India’s Edible Oil Imports Hit Half-Year High

Indian edible oil imports rose sharply during May with palm oil imports rising by 87% compared to April. The rise was caused by low stocks and cheap prices, prompting refiners to step up purchases.

Market Impact & Future Outlook

India's vegetable oil inventories declined to 1.35 million tonnes, the lowest level since July 2020. The latest cut in import tariff on crude edible oils is likely to further enhance imports in the next few months, with imports of palm oil seen increasing to 750,000 tonnes in June and 850,000 tonnes in July.

 

Sources: The Hindu, Economic Times, MSN