India's palm oil imports could jump 16% in 2022/23 to a four-year high of 9.17 million tonnes, as consumption is set to jump after two years of contraction due to COVID-led lockdowns, a senior industry official told Reuters on Tuesday.
Higher purchases by the world's biggest importer of vegetable oils could lend further support to palm oil futures , which are trading near their highest level in four months.
"Consumption fell for two straight years because of the pandemic. This year, it would rebound by about 5% as restrictions have eased and prices have fallen," said Sudhakar Desai, president of the Indian Vegetable Oil Producers' Association. The consumption growth would be fulfilled by higher imports of palm oil, which has been trading at a discount to rival soyoil and sunflower oil, he said.
India's palm oil imports in the first four months of the 2022/23 marketing year that started on Nov. 1 jumped 74% from a year ago to 3.67 million tonnes, traders estimate.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
India's retail vehicle sales up 16% in February, festivals seen driving March - FADARetail sales of vehicles in India jumped 16% to around 1.8 million units in February, helped in part by strong demand during the wedding season, an industry body of automobile dealers said on Monday, adding that festivals could push the sales higher in March.
Weiterlesen »
Hockey trends to bet as 2022-23 NHL playoffs approachWith the end of the season rapidly approaching, see what betting angles we are targeting.
Weiterlesen »
NBA roundup: 76ers snuff Bucks' 16-game winning streakJames Harden had 38 points, nine rebounds and 10 assists as the visiting Philadelphia 76ers rallied from an 18-point deficit to snap the Milwaukee Bucks' 16-game winning streak with a 133-130 victory on Saturday.
Weiterlesen »
Philadelphia 76ers rally to snap Milwaukee Bucks' 16-game winning streakJames Harden and Joel Embiid rallied the 76ers to a victory of the Bucks, which snapped Milwaukee's 16-game winning streak.
Weiterlesen »
76ers rally past Bucks, snapping Milwaukee’s 16-game winning streakJoel Embiid made a go-ahead 3-pointer with 41.4 seconds left and the visiting 76ers beat Milwaukee 133-130, snapping the Bucks’ 16-game win streak.
Weiterlesen »
US evaluating Ukrainian pilots for possible F-16 training | CNNThe US is working with Ukrainian pilots in the United States to determine how long it would take to train them to fly F-16 fighter jets, three sources briefed on the matter told CNN.
Weiterlesen »