MARKET DEVELOPMENT
India's December Palm Oil Imports up 11.5 Pct M/M-Trade
India's December Palm Oil Imports up 11.5 Pct M/M-Trade
14/01/2014 (Reuters) - India's palm oil imports rose to 863,205 tonnes in December from 774,207 tonnes in the previous month, data from the Solvent Extractors' Association of India (SEA) showed on Monday.
Traders had expected palm oil imports by the world's biggest palm oil buyer to be in a range of 650,000-880,OOO tonnes last month, including 150,000-178,000 tonnes of refined palm oil.
The majority of traders had expected palm oil imports to be lower than last month due to weak demand in India's winter as the tropical oil solidifies at low temperatures.
India imported a record 10.38 million tonnes of edible oils in the marketing year ended Oct. 31, 2013.
Traders had expected palm oil imports by the world's biggest palm oil buyer to be in a range of 650,000-880,OOO tonnes last month, including 150,000-178,000 tonnes of refined palm oil.
The majority of traders had expected palm oil imports to be lower than last month due to weak demand in India's winter as the tropical oil solidifies at low temperatures.
India imported a record 10.38 million tonnes of edible oils in the marketing year ended Oct. 31, 2013.