India likely to buy more soyoil in 2024, reduce palm oil purchases, top dealer says at KL conference
04/03/2024 (The Edge Malaysia), Kuala Lumpur - India, the world's biggest vegetable oil importer, is expected to buy larger volumes of soyoil in 2024, while purchases of palm oil are likely to decline, a top dealer said on Monday.
Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm, said India's soyoil imports will rise to 4.3 million metric tonnes in the 2023/2024 marketing year, from 3.5 million tonnes in 2022/2023.
Palm oil imports will be lower at 9.2 million tonnes in 2023/2024, compared with 10 million tonnes in 2022/2023, Sandeep said on the sidelines of the Palm and Lauric Oils Price Outlook Conference 2024 here.
India, the world's biggest vegetable oil importer, is expected to buy larger volumes of soyoil in 2024, while purchases of palm oil are likely to decline, a top dealer said on Monday.
Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm, said India's soyoil imports will rise to 4.3 million metric tonnes in the 2023/2024 marketing year, from 3.5 million tonnes in 2022/2023.
Palm oil imports will be lower at 9.2 million tonnes in 2023/2024, compared with 10 million tonnes in 2022/2023, Sandeep said on the sidelines of the Palm and Lauric Oils Price Outlook Conference 2024 here.