India increased palm oil imports to a 3-month high in April

In April, compared to March, India increased palm oil imports by 41% to a 3-month high of 682,000 tons, Reuters reports.

The reason for this was the decrease in palm oil prices, which increased its competitiveness among other oils. Thus, crude palm oil (CPO) for delivery in June is offered at a price of $920/t CIF, soybean oil at a price of $920/t and sunflower oil at $945/t, although a month ago the price of CPO was $50/t higher

At the same time, the import of sunflower oil to India in April decreased by 48% compared to March to 233,000 tons due to the delay in the unloading of several vessels with oil caused by excessive loading of ports.

Soybean oil imports rose 79% in April to a 10-month high of 391,000 tonnes, thanks to improved refining margins.

In general, in April, the import of edible oils to India increased by 13% compared to March to 1.3 million tons.