India is likely to buy more refined palm oil after the government last month lifted restrictions on its imports for six months, a move seen aimed at cooling local consumer prices of edible oil. It also cut import tax on CPO by 5% until end-September.
KUALA LUMPUR: India imported 275, 915 tonnes of palm oil from Malaysia in June, according to the latest data from an industry group.The country’s total edible oil imports last month were 969, 431 tonnes, with palm oil’s share being 61%, the Mumbai-based Solvent Extractors’ Association of India (SEA) said.
Overall edible oil imports dropped 20% in June from the previous month due to higher domestic stocks, it said.
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