India’s 2017/18 palm oil imports could rise 1.9 pct – analyst Mielke

05.02.2018

India’s vegetable oil imports could edge up 1.2 percent to 15.6 million tonnes in 2017/18 marketing year on higher overseas palm oil purchases, leading industry analyst Thomas Mielke said.

Palm oil imports into India, the world’s biggest importer of vegetable oils, could rise 1.9 percent to 9.55 million tonnes during the current marketing year, Mielke told a conference in New Delhi on Friday.

The country’s overseas purchases of soyoil are estimated at 3.37 million tonnes in the current marketing year that started on Oct. 1, slightly lower than 3.47 million tonnes a year ago, Mielke, executive director of Hamburg-based forecaster Oil World, told the Globoil India conference.

India’s sunflower oil imports are likely to nudge up to 2.2 million tonnes from 2.14 million tonnes a year ago, he said.

China’s soybean imports are likely to jump 3.2 percent in 2017/18 to 96 million tonnes, he added.


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