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India's June palm oil imports plunge to 4-1/2 year low

Reuters  |  MUMBAI 

By Rajendra JadhavMUMBAI (Reuters) - India's palm oil imports in June plunged 41 percent from a year earlier to their lowest in nearly 4-1/2 years, a leading trade body said on Monday, as a higher import tax on the tropical oil made it more expensive.Lower imports by India, the world's biggest vegetable oil importer, could weigh on benchmark Malaysian palm oil futures that are currently trading near their lowest in three years.India imported 487,147 tonnes of palm oil in June, the lowest since February 2014, the Solvent Extractors' Association of India (SEA) said in a statement ...

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First Published: Mon, July 16 2018. 14:37 IST