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India’s palm oil imports dip to 17-months low

The Solvent Extractors’ Association (SEA) pointed out in its statement that the country’s palm oil imports fell 3% in November from a year ago to the lowest level in 17-months. This has been attributed to the fact that refiners curtailed purchases of refined palm oil from Malaysia fearing a hike in import tax.

The key source of New Delhi’s refined palm oil imports is Malaysia while Indonesia accounts for the main source for crude palm oil imports. In November 2019, India’s palm oil imports stood at 671,863 tonnes; while in November 2018, the country imported 691,827 tonnes of palm oil.