India imported over 500,000 tonnes of palm oil from Malaysia last month

India has imported more than 500,000 tonnes of palm oil from Malaysia last month out of its overall edible oil imports of about 1.07 million tonnes.

According to figures released by an industry group, 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 oil, The Star reported.

India's CPO imports from Malaysia last month were more than 23 per cent higher than the December purchase, the Solvent Extractors' Association said.

The palm oil import was 58 per cent in December last year. However, there was a sharp drop in the soybean import that resulted in the reduction of the share of soft oils versus palm oil in January.

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