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India's Nov Palm Oil Imports Fall To 17-Month Low

13 Dec 2019 4:16 pm
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MUMBAI (Commoditiescontrol) - India's palm oil imports declined 3 percent in November from a year ago to the lowest level in 17-months, a leading trade body said on Friday, as refiners curtailed purchases of refined palm oil from Malaysia fearing a hike in import tax.

New Delhi's palm oil imports in November stood at 671,863 tonnes, the lowest since July 2018, the Solvent Extractors' Association (SEA) said in a statement.

The country imported 691,827 tonnes of palm oil in November 2018 and 778,568 tonnes in October 2019, it said.

Indian refiners nearly stopped palm oil purchases for November shipments from Malaysia in October fearing New Delhi could raise import taxes or enforce other measures to curb imports after Kuala Lumpur criticised New Delhi for its actions in Kashmir.


       
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