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Indian palm oil demand dips as food sector, households seek alternatives

The impact of the shuttered food courts and street vendors is compounded by reduced demand at retail stores

Malaysian Palm oil futures see sharpest decline in 2 weeks on bearish data
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Palm oil has accounted for more than two-third of India's edible oil imports since 2010/11

Reuters Mumbai/Kuala Lumpur
Palm oil demand in India, the world's top edible oil importer, is set to plunge this year as coronavirus lockdowns slash food service sector demand and households opt for alternatives at the supermarket.

India's palm oil imports could plunge 20% from a year ago to 7.5 million tonnes in the 2019/20 marketing year ending on October 31, said Angshu Mallick, deputy chief executive of Adani Wilmar, a leading edible oil refiner in the country. That would be the lowest imports since 2010/11, according to data from India's Solvent Extractors Association (SEA).

"Hotels, restaurants are not opening the way we were

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