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May gold imports surge, vegetable oil buying hits record high: Report

India's gold imports in May surged more than nine-fold from last year's low base to 12 tonnes, while vegetable oil imports in the month spiked 148% to a record $1.4 billion, a government source

Topics
Gold Import | Vegetable oil

Reuters  |  MUMBAI 

Photo: Reuters
Photo: Reuters

MUMBAI (Reuters) - India's gold imports in May surged more than nine-fold from last year's low base to 12 tonnes, while imports in the month spiked 148% to a record $1.4 billion, a government source told Reuters on Wednesday.

The South Asian country is the world's second-biggest consumer of gold and the biggest importer of vegetable oils such as palm oil, sunflower oil and soyoil.

In value terms, May gold imports surged to $679.16 million from $76.31 million a year earlier, he said.

 

(Reporting by Aftab Ahmed and Rajendra Jadhav; Editing by Himani Sarkar)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, June 02 2021. 10:36 IST
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