India Imports 354,462 Tonnes Of Palm Oil From Malaysia In September

NEW DELHI, Oct 13 (Bernama) -- India imported 354,462 tonnes of palm oil from Malaysia in September this year, with refined products making up about one-fourth of the volume. The imports comprised 251,346 tonnes of crude palm oil (CPO), 93,616 tonnes of RBD palmolein and 9,500 tonnes of crude palm kernel oil (CPKO), according to data from the Solvent Extractors' Association of India (SEA) released on Wednesday. India's edible oil imports stood at about 1.69 million tonnes in September, representing a 67 per cent increase over August's volumes -- a new monthly record amidst rising cooking oil prices in the domestic market. Of the total, palm oil accounts for more than 1.26 million tonnes, the highest single-month import figure for the commodity. The world's biggest edible oil importer, which relies on foreign sources for more than half of its local consumption requirements, has relaxed import rules and cut tariffs in recent months to boost retail supplies. The government has imposed limits on traders keeping stocks of edible oils and oilseeds until March 2022 to curb inflation. Malaysia and Indonesia are India's top suppliers of palm oil, whereas Argentina, Ukraine and Russia are its main sources for soybean oil and sunflower oil. Last month, Plantation Industries and Commodities Minister Zuraida Kamaruddin told an industry conference that Malaysia exported 1.8 million tonnes of palm oil to India from January to July this year. -- BERNAMA