Palm oil prices have also been affected by the decline in soybean oil prices worldwide. The situation is that palm oil is now cheap with soybean oil. In such a situation, Indian importers have increased procurement levels. Sankar Thacker, the National President of the All India Food Oil Traders Federation and the National President of the All India Trade Federation (GATE), said India has begun to increase the purchase of palm oil after a five -month recession, because the competitor has become more cheaper than the oil. India is the largest importer of Pamayil in the world.
This is the price of two oils
Thacker said that the price of crude palm oil is currently $ 1,050 per tonne, and that soy oil is priced at $ 1,100 per tonne, which urges the share of Indian importers to increase again. From December to March, there was a significant decline in the import of palm oil, but the import is expected to be over 500,000 tonnes in May and more than 600,000 tonnes in June.
Refiners who are preparing to increase stocks
The change in this requirement is expected to support the future of Malaysian palm oil, which declined by about 10% by 2025. Purchase progress refers to a new demand cycle because our ports and refiners have declined. Therefore, they can be aimed at filling their stocks again. In the international markets, palm oil is now cheaper with soy oil, which has increased the purchase again.
Import has been reduced since December
At the end of last year, Sankar Thacker said that the price of soyon oil has lost a profit, resulting in Indian buyers significantly reduced imports. From December to March, India imported only 1.57 million tonnes of palm oil, ie an average of 3,84,712 tonnes per month. This is the lowest 750,000 tonnes of plus to import per month by the marketing year ended by October 2024.
Malaysian palm oil will get an incentive
Distributors estimate that the demand between July and September will be further increased, which will cross 700,000 tonnes, as the refinery operates to reopen the stock. This new procurement trend from India is likely to support the future of Malaysian palm oil with about 10% decline in 2025.
Global markets will be closely monitored by increasing Indian demand, especially India imported some quantities from Indonesia and Malaysia from Pamayils and Thailand. Shankar Thacker added that when the price of Pamayil appears, India’s increasing imports reflect significant changes in demand, which will affect global -eating oil markets in the coming months.
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