PalmOilMagazine, SINGAPORE – Referring to Oil World in webinar held by UOB Kay Hian in the midst of October 2020, the vegetable oil needs in India kept increasing except the sunflower oil in that in 2020/2021 could be decreasing.
Sunflower oil import decreased 570 thousand tons to be only about 1,95 million tons from the previous about 2,25 million tons in 2019/2020. Soybean, palm oil, palm kernel oil, and canola oil would keep increasing in 2020/2021.
Soybean oil, for instance, would be increasing about 500 thousand tons to be 4 million tons. Palm oil import would be increasing to be about 1 million to be 8,8 million tons, palm kernel oil would be increasing 20 thousand tons to be 140 thousand tons and canola oil would be increasing 40 thousand tons from 80 thousand to be 120 thousand tons within the total imports of main vegetable oil in India reaching 15,01 million tons in 2020/2021. (T2)
This article was published in PalmOIlMagazine, December 2020
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