MARKET DEVELOPMENT
India's January Palm Oil Imports Down 35.7 Pct M/M-Trade
India's January Palm Oil Imports Down 35.7 Pct M/M-Trade
15/02/2014 (Reuters) - India's palm oil imports fell to 555,446 tonnes in January from 863,205 tonnes in the previous month, data from the Solvent Extractors' Association of India (SEA) showed on Friday.
Traders had forecast imports in the range of 550,000-630,000 tonnes by the world's biggest palm oil buyer, including 180,000-210,000 tonnes of refined palm oil.
They expected palm oil imports to drop last month for the first time since October due to weak demand in winter when the tropical oil solidifies at low temperatures.
India imported 893,313 tonnes of palm oils in the corresponding year-ago month.
Traders had forecast imports in the range of 550,000-630,000 tonnes by the world's biggest palm oil buyer, including 180,000-210,000 tonnes of refined palm oil.
They expected palm oil imports to drop last month for the first time since October due to weak demand in winter when the tropical oil solidifies at low temperatures.
India imported 893,313 tonnes of palm oils in the corresponding year-ago month.