MUMBAI (Reuters) - India's 2018/2019 palm oil imports dropped 6.4 percent from a year ago to 8.7 million tonnes as rupee depreciation and a credit crunch dented refiners' ability to buy overseas, a leading trade body said on Thursday.
India, the world's biggest importer of edible oils, buys palm oil from Indonesia and Malaysia, soyoil mainly from Argentina and Brazil, and sunflower oil from Ukraine.
The country's soyoil imports in the year ended on Oct. 31 fell 8.1 percent to 3.05 million tonnes, while sunflower oil purchases jumped 16.4 percent to 2.5 million tonnes, the Solvent Extractors' Association of India (SEA) said in a statement.
India's total edible oil imports fell 3.7 percent to 14.5 million tonnes, the SEA said.
(Reporting by Rajendra Jadhav; Editing by Kirsten Donovan)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app