AGL 38.50 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 206.00 Decreased By ▼ -1.77 (-0.85%)
BOP 10.25 Increased By ▲ 0.19 (1.89%)
CNERGY 6.60 Decreased By ▼ -0.48 (-6.78%)
DCL 9.59 Decreased By ▼ -0.40 (-4%)
DFML 40.40 Decreased By ▼ -0.74 (-1.8%)
DGKC 99.70 Decreased By ▼ -3.76 (-3.63%)
FCCL 35.29 Decreased By ▼ -1.06 (-2.92%)
FFBL 87.00 Decreased By ▼ -4.59 (-5.01%)
FFL 13.99 Decreased By ▼ -0.61 (-4.18%)
HUBC 133.11 Decreased By ▼ -6.32 (-4.53%)
HUMNL 14.01 Decreased By ▼ -0.09 (-0.64%)
KEL 5.68 Decreased By ▼ -0.29 (-4.86%)
KOSM 7.40 Decreased By ▼ -0.46 (-5.85%)
MLCF 46.00 Decreased By ▼ -1.28 (-2.71%)
NBP 66.38 Decreased By ▼ -7.38 (-10.01%)
OGDC 220.50 Decreased By ▼ -2.16 (-0.97%)
PAEL 38.80 Increased By ▲ 0.69 (1.81%)
PIBTL 8.93 Decreased By ▼ -0.34 (-3.67%)
PPL 198.00 Decreased By ▼ -7.85 (-3.81%)
PRL 39.90 Increased By ▲ 0.05 (0.13%)
PTC 25.81 Decreased By ▼ -0.81 (-3.04%)
SEARL 101.99 Decreased By ▼ -8.25 (-7.48%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TOMCL 36.80 Decreased By ▼ -1.41 (-3.69%)
TPLP 13.90 Increased By ▲ 0.13 (0.94%)
TREET 25.40 Decreased By ▼ -1.05 (-3.97%)
TRG 58.50 Decreased By ▼ -2.04 (-3.37%)
UNITY 33.70 Decreased By ▼ -0.44 (-1.29%)
WTL 1.72 Decreased By ▼ -0.16 (-8.51%)
BR100 11,969 Decreased By -330 (-2.68%)
BR30 37,590 Decreased By -1287.1 (-3.31%)
KSE100 111,657 Decreased By -3203.6 (-2.79%)
KSE30 35,101 Decreased By -1095.4 (-3.03%)

MUMBAI: India’s palm oil imports in July jumped 59% from the previous month to 1.08 million metric tons, the highest in seven months, as refiners took advantage of lower prices to increase purchases, a trade body said on Monday.

Higher imports by India, the world’s biggest buyer of vegetable oils, would help top producers Malaysia and Indonesia bring down stocks and support Malaysian prices. Imports of soyaoil fell by around 22% to 342,270 tons and those of sunflower oil were up 71% at 327,259 tons, the Mumbai-based Solvent Extractors’ Association of India (SEA) said in a statement.

India’s edible oil imports in July rose to a record 1.76 million tons as refiners built up stocks for upcoming festivals given uncertainty over supplies from the Black Sea, dealers said. The discount of crude palm oil prices to crude soyaoil widened to over $150 per ton, prompting refiners to switch to palm oil, said a Mumbai-based dealer with a global trade house.

“This trend would continue even in coming months. We are expecting around 1 million tons of imports in September,” the dealer said. The country’s total edible oil imports in the 2022/23 marketing year ending on Oct. 31 could jump to a record 15.5 million tons, the SEA said in a statement.

Comments

Comments are closed.