India's January palm oil imports fell 31% from a month ago to their lowest in months as a narrowing discount to rival oils prompted refiners to increase purchases of soybean and sunflower oils, five dealers told Reuters on Thursday.
The reduction in palm oil imports by India, the world's biggest importer of vegetable oils, could weigh on Malaysian palm oil prices but support soyoil and help Russia and Ukraine in bringing down their sunoil stocks.
India's palm oil imports fell to 770,000 tonnes last month, the lowest since July 2022, according to the average of the estimates from the five dealers with trading firms. "Palm oil's discount is coming down. Buyers are shifting to soyoil and sunflower oil," said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm.
Palm oil's discount to soyoil has shrunk to less than $300 per tonne from as high as $500 in the December quarter, the dealers said.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Top 5 K-Dramas On Viki In JanuaryTop 5 K-Dramas On Viki In January
Leer más »
Google's top trending searches this JanuaryGoogle Trends expert Alex Joseph joins Good Day Chicago to break down some of the most popular searches from the first month of 2023.
Leer más »
Flight delays, TCU football and Girl Scout cookies influenced top Google searches in January - KRLD NewsAs January comes to an end, KRLD's John Liddle took a look at Google's top searches with Google Trends expert Elizabeth Howard. The Southwest Airlines flight delays, TCU football, and Girl Scout cookies were among the top searches. Image: Google's offices stand in downtown Manhattan on Oct. 20, 2020, in New York City. (Photo by Spencer Platt/Getty Images)
Leer más »
January Barometer looks like it will be positive, giving bulls a psychological boostThe 'January barometer' ('As goes January, so goes the year') is the tendency for the January performance to forecast performance for the rest of the year.
Leer más »