NEW DELHI: India’s palm oil imports in October probably retreated from a one-year high as traders and refiners trimmed buying after overseas supplies became more expensive.
That’s the lowest since June. Imports were 879,947 tons in September. The Solvent Extractors’ Association may release its data this week.The decline in purchases by India, the world’s biggest importer, may boost inventories in top producers Indonesia and Malaysia. “Any rise in prices in a short span of time will deter buyers. There will be buying in dips,” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental. “This is the time when palm oil tends to solidify and that reduces demand.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ministers told to drum up palm oil sales abroad, not Tg Piai votesEven if we drink (palm oil) a bottle a day, we would not solve this palm oil issue, says Shahidan
Source: malaysiakini - 🏆 20. / 51 Read more »
Palm oil 'boycott' by India likely speculation, Dewan Rakyat toldThe deputy primary industries minister says Indian palm oil importers are suggesting it may be mere talk and that New Delhi has not formally confirmed any boycott. FMTNews PalmOil
Source: fmtoday - 🏆 5. / 72 Read more »
Minister downplays Indian boycott after latest palm oil deal signedUp to 1.5 million metric tonnes of Malaysian palm to be exported to India and China next year. FMTNews PalmOil TeresaKok KhairuddinAbuHassan
Source: fmtoday - 🏆 5. / 72 Read more »
Dr Wee hits out at Teresa Kok over issue of price of palm oil fruitsKUALA LUMPUR: MCA president Datuk Seri Dr Wee Ka Siong has hit out at Primary Industries Minister Teresa Kok for saying that the price of palm oil fruits had hit RM435 per tonne.
Source: staronline - 🏆 4. / 75 Read more »
Sustainable palm oil certificate issuance not related to Tg Piai by-election, says Kok | The Malaysian InsightThe primary industries minister says the smallholders have already been certified and they are just being given additional equipment.
Source: msianinsight - 🏆 8. / 63 Read more »
Najib fumes over free SIM cards and palm oil, wants EC to actUPDATED 4.55PM | TG PIAI POLLS | Ex-PM challenges EC to take action against Teresa Kok and Karmaine Sardini.
Source: malaysiakini - 🏆 20. / 51 Read more »