“There is a disparity in prices and that will reduce imports by India this month as well,” said G. G. Patel, managing partner of GGN Research, an agricultural research company. Palm purchases may total 625,000 tons this month, he said.
Imported crude palm oil
is about Rs 1,200 ($17) a ton more expensive than local supplies, while the refined variety from overseas is about Rs 1,000 a ton costlier, Patel said.
Soybean oil purchases, mostly from the U.S., Brazil and Argentina, climbed 34 per cent from a month earlier to 332,000 tons, while sunflower oil imports rose 34 per cent to 170,000 tons, the survey showed. Total vegetable oil imports were little changed at 13 lakh tons, according to the survey.