India’s palm oil imports nearly doubled to an 11-month high in August from a month earlier, as a correction in prices prompted refiners to ramp up purchases, five dealers told Reuters on Monday.
Higher palm oil purchases by the world’s biggest edible oil importer could support palm oil futures and help top producer Indonesia in bringing down ballooning inventories.
“Palm has become very competitive compared to soft oils. Price difference widened sharply last month,” said Sandeep Bajoria, chief executive of Sunvin Group, a leading vegetable oil broker.
Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.