It is expected that in July of this year India may increase imports of vegetable oils to 1.86 mln tons, which is almost 60% higher than the traditional level for this period, when importers increase stocks before the holidays, BDNews reports.
In particular, it is noted that in the period of July 1-24, 1.5 mln tons of vegetable oils were delivered to the ports of India, and another 386 thsd tonnes are expected to be delivered by the end of this month.
It is also specified that against the background of the Russian-Ukrainian war, importers are trying to maintain a high level of vegetable oil stocks. Therefore, in July of this year, imports were high not only for palm oil, but also for soybean and sunflower oils.
In general, according to the results of July, imports of palm oil to the country may increase by 46% per month, up to 1 million tons – the highest figure for the last 7 months, sunflower oil – up to 385 thousand tons (maximum for 6 months), soybean oil – up to 475 thousand tons (maximum for a year).
Source: Apkinform