InfoSAWIT, MUMBAI – A survey to five palm oil traders that Reuters did, revealed that palm oil imports in India in March 2023 increased 28% from the previous in February 2023 which was the lowest level in the past eight months.
The increasing imports happened for palm oil discount price. It encouraged refineries in the country to temporarily stop soybean and sunflower oil.
As InfoSAWIT quoted from Reuters, Monday (10/4/2023), the traders mentioned, the increasing imports delivered impacts to palm oil stocks in Malaysia that decreased in numbers and escalated palm oil price in Bursa Malaysia Derivatives Exchange with the code FCPOc3.
Palm oil imports in India increased to be 750 thousand tons in March 2023, escalated from Februarty that reached 586.007 tons, based on the traders’ average prediction. (T2)
