India’s sunflower oil, soy oil imports up as palm oil imports fall
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India’s sunflower oil imports rose by 51% in March from the previous month to reach the second highest level on record, as lower prices led refiners to increase their purchases while reducing buying of rival palm oil, five dealers told Reuters.
Lower palm oil purchases by India, the world’s biggest importer of vegetable oils, could cap the rally in benchmark Malaysian palm oil futures that are trading near their highest in a year. Higher sunflower oil purchases will help to reduce sunflower oil inventories in the Black Sea region.
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