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Lower palm oil purchases by the world's biggest vegetable oil importer could put pressure on Malaysian palm oil prices and may lift soyoil imports to record highs and support U.S. soyoil futures price
Move might impact farmers' realisation when kharif harvest is on, say industry players
India's sunflower oil imports rose 31% to 175,759 tonnes in May, it added.
The country's soyoil imports in July surged 52 per cent from a year ago to 484,525 tonnes
Though domestic demand is need based, supply scenario is extremely tight due to logistic bottlenecks amid slowdown in transport
Oil for delivery in August contracts traded higher by Rs 7.75, or 1.22%
Oil for delivery in August weakened by 45 paise or 0.07%
Oil for delivery in June contracts traded higher by Rs 2.20 or 0.34%
Oil for delivery in far-month May eased by Rs 2.90, or 0.44%