 "The estimated price fall would help the government control retail food inflation")
India has suspended 39 licences to import 452,303 tonnes of refined palm oil after a surge in duty-free purchases from neighbours such as Nepal and Bangladesh which are not key producers, government and trade sources told Reuters.
The suspension could reduce India's palm oil imports in the next few months and pressure Malaysian palm oil futures, but could lift shipments of soyoil and sunflower oil, the Reuters reported.
"All these 39 licences for import of refined palm oil will be immediately put under suspension," the government said in circular seen by Reuters on Monday.
India, the world's biggest importer of
