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MUMBAI/KUALA LUMPUR, July 7 (Reuters): Palm oil demand in India, the world's top edible oil importer, is set to plunge this year as coronavirus lockdowns slash food service sector demand and households opt for alternatives at the supermarket.
India's palm oil imports could plunge 20% from a year ago to 7.5 million tonnes in the 2019/20 marketing year ending on Oct. 31, said Angshu Mallick, deputy chief executive of Adani Wilmar, a leading edible oil refiner in the country. That would be the lowest imports since 2010/11, according to data from India's Solvent Extractors Association (SEA).
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