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Business Recorder
04-05-2025
- Business
- Business Recorder
India's April palm oil imports drop, remain below normal levels
MUMBAI: India's palm oil imports in April fell by nearly a quarter from the previous month, marking the fifth consecutive month below normal levels, as the tropical oil's premium over rival soyoil led to higher soyoil purchases, according to five dealers. Lower-than-normal palm oil imports by India, the world's biggest buyer of vegetable oils, could pressure Malaysian palm oil prices and support US soyoil futures. Palm oil imports in April fell 24% month-on-month to 322,000 metric tons, according to estimates from dealers. India imported an average of more than 750,000 tons of palm oil each month during the marketing year that ended in October 2024, said the Solvent Extractors' Association of India, which is set to publish its April import data by mid-May. Palm oil prices have been elevated due to tight supplies, which encouraged price-sensitive buyers to increase soyoil purchases, said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage. Traders have been opting for lower-priced soyoil for the past several months, and imports increased again in April, rising 2% month-on-month to 363,000 tons, dealers said. Sunflower oil imports, meanwhile, fell nearly 6% to 180,000 metric tons, the lowest in seven months. Lower imports of palm oil and sunflower oil lowered India's total edible oil imports in April to 865,000 tons, marking an 11% drop from the prior month, according to dealers' estimates. Palm oil, however, has now started trading at a discount to soyoil, which is encouraging Indian buyers to increase palm oil purchases for shipments from May onwards, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. India buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine. Nepal's edible oil imports were 85,000 tons in April, down from 135,000 tons in March, GGN Research estimated. More than half of Nepal's imports are ultimately destined for re-export to the Indian market as refined products since goods from the Himalayan country are tax-free under the South Asian Free Trade Agreement (SAFTA), Patel said.
Time of India
02-05-2025
- Business
- Time of India
India's April palm oil imports drop 24%, remain below normal levels, dealers say
India 's palm oil imports in April fell by nearly a quarter from the previous month, marking the fifth consecutive month below normal levels, as the tropical oil's premium over rival soyoil led to higher soyoil purchases , according to five dealers. #Pahalgam Terrorist Attack India's Rafale-M deal may turn up the heat on Pakistan China's support for Pakistan may be all talk, no action India brings grounded choppers back in action amid LoC tensions Lower-than-normal palm oil imports by India, the world's biggest buyer of vegetable oils , could pressure Malaysian palm oil prices and support U.S. soyoil futures. Palm oil imports in April fell 24% month-on-month to 322,000 metric tons, according to estimates from dealers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 10 Mysterious Photos That Cannot Be Explained True Edition Undo India imported an average of more than 750,000 tons of palm oil each month during the marketing year that ended in October 2024, said the Solvent Extractors' Association of India, which is set to publish its April import data by mid-May. Palm oil prices have been elevated due to tight supplies, which encouraged price-sensitive buyers to increase soyoil purchases, said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage. Live Events Traders have been opting for lower-priced soyoil for the past several months, and imports increased again in April, rising 2% month-on-month to 363,000 tons, dealers said. Sunflower oil imports , meanwhile, fell nearly 6% to 180,000 metric tons, the lowest in seven months. Lower imports of palm oil and sunflower oil lowered India's total edible oil imports in April to 865,000 tons, marking an 11% drop from the prior month, according to dealers' estimates. Palm oil, however, has now started trading at a discount to soyoil, which is encouraging Indian buyers to increase palm oil purchases for shipments from May onwards, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. India buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine. Nepal's edible oil imports were 85,000 tons in April, down from 135,000 tons in March, GGN Research estimated. More than half of Nepal's imports are ultimately destined for reexport to the Indian market as refined products since goods from the Himalayan country are tax-free under the South Asian Free Trade Agreement (SAFTA), Patel said.
Economic Times
23-04-2025
- Business
- Economic Times
India starts raising palm oil buying as prices fall below soyoil
India has started raising palm oil purchases after a lull of five months as a correction in prices has made the tropical oil cheaper than rival soyoil, encouraging refiners to place orders to replenish inventories, four dealers told Reuters. Higher purchases by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil futures, which have fallen nearly 10% so far in 2025. "Indians had pulled back on buying palm oil because it was too pricey. But now that it's cheaper than soyoil, refiners are placing orders," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage. Crude palm oil (CPO) is currently being offered at about $1,050 a ton, including cost, insurance and freight (CIF), in India for May delivery, compared to around $1,100 for crude soyoil, dealers said. Indian buyers started trimming purchases from December as palm oil's premium over soyoil jumped above $100. India imported 1.57 million tons of palm oil from December to March. Shipments for April are expected to be around 350,000 tons, bringing the average monthly imports for the five-month period to 384,712 tons. India imported an average of more than 750,000 tons of palm oil each month during the marketing year that ended in October 2024, said the Solvent Extractors' Association of India, which is set to publish its April import data by mid-May. The country's palm oil imports are likely to rise above 500,000 tons in May and exceed 600,000 tons in June. From July to September, the monthly average could be more than 700,000 tons, dealers said. Stocks in India have depleted due to lower-than-normal imports over the past five months, and now refiners need to increase imports to replenish them, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. India buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
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Business Standard
23-04-2025
- Business
- Business Standard
India resumes palm oil imports as prices fall below soyoil after 5 months
India has started raising palm oil purchases after a lull of five months as a correction in prices has made the tropical oil cheaper than rival soyoil, encouraging refiners to place orders to replenish inventories, four dealers told Reuters. Higher purchases by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil futures, which have fallen nearly 10 per cent so far in 2025. "Indians had pulled back on buying palm oil because it was too pricey. But now that it's cheaper than soyoil, refiners are placing orders," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage. Crude palm oil (CPO) is currently being offered at about $1,050 a ton, including cost, insurance and freight (CIF), in India for May delivery, compared to around $1,100 for crude soyoil, dealers said. Indian buyers started trimming purchases from December as palm oil's premium over soyoil jumped above $100. India imported 1.57 million tons of palm oil from December to March. Shipments for April are expected to be around 350,000 tons, bringing the average monthly imports for the five-month period to 384,712 tons. India imported an average of more than 750,000 tons of palm oil each month during the marketing year that ended in October 2024, said the Solvent Extractors' Association of India, which is set to publish its April import data by mid-May. The country's palm oil imports are likely to rise above 500,000 tons in May and exceed 600,000 tons in June. From July to September, the monthly average could be more than 700,000 tons, dealers said. Stocks in India have depleted due to lower-than-normal imports over the past five months, and now refiners need to increase imports to replenish them, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. India buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
23-04-2025
- Business
- Time of India
India starts raising palm oil buying as prices fall below soyoil
India has started raising palm oil purchases after a lull of five months as a correction in prices has made the tropical oil cheaper than rival soyoil , encouraging refiners to place orders to replenish inventories, four dealers told Reuters. Higher purchases by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil futures , which have fallen nearly 10% so far in 2025. "Indians had pulled back on buying palm oil because it was too pricey. But now that it's cheaper than soyoil, refiners are placing orders," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage . Crude palm oil (CPO) is currently being offered at about $1,050 a ton, including cost, insurance and freight (CIF), in India for May delivery, compared to around $1,100 for crude soyoil, dealers said. Indian buyers started trimming purchases from December as palm oil's premium over soyoil jumped above $100. Live Events India imported 1.57 million tons of palm oil from December to March. Shipments for April are expected to be around 350,000 tons, bringing the average monthly imports for the five-month period to 384,712 tons. India imported an average of more than 750,000 tons of palm oil each month during the marketing year that ended in October 2024, said the Solvent Extractors' Association of India, which is set to publish its April import data by mid-May. The country's palm oil imports are likely to rise above 500,000 tons in May and exceed 600,000 tons in June. From July to September, the monthly average could be more than 700,000 tons, dealers said. Stocks in India have depleted due to lower-than-normal imports over the past five months, and now refiners need to increase imports to replenish them, said Rajesh Patel, managing partner at GGN Research, an edible oil trader . India buys palm oil mainly from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
