India imports over 500,000 tonnes of palm oil from Malaysia in January

NEW DELHI: India imported more than 500,000 tonnes of palm oil from Malaysia in January out of its overall edible oil imports of about 1.07 million tonnes.

The imports from Malaysia comprised 497,337 tonnes of crude palm oil (CPO), 9,204 tonnes of crude palm kernel oil and 2,701 tonnes of RBD palm olein, according to figures released by an industry group.

The Solvent Extractors' Association (SEA) said India’s CPO imports from Malaysia in January were more than 23 per cent higher than the December purchase.

The country's palm oil imports totalled 780,741 tonnes last month, constituting 73 per cent of all vegetable oil imports.

Palm oil's share of the December imports was 58 per cent, but a sharp drop in soybean imports reduced the share of soft oils versus palm oil in January, according to SEA.

Edible oil imports fell to 1.07 million tonnes last month from about 1.32 million tonnes in December.

-- BERNAMA