India's May Palm Oil Imports Set To Rise Despite Indonesia's Export Ban
NDTV
India's palm oil imports in May are set to rise above 600,000 tonnes despite the restriction imposed by Indonesia on exports
India's palm oil imports in May are set to rise above 600,000 tonnes despite the restriction imposed by Indonesia on exports as most of the contracted quantity will be loaded before Jakarta's ban becomes effective, traders told Reuters.
The world's biggest palm oil exporter plans from Thursday to stop shipments of refined, bleached and deodorized (RBD) palm olein but will allow exports of crude palm oil (CPO) or other derivative products.
The ban could dent India's imports in June as refiners are struggling to secure supplies from Malaysia, traders said.
"Vessel loading is nearly done for May shipments at Indonesian ports. That quantity would be unloaded in India next month," said Sandeep Bajoria, chief executive of Sunvin Group, a Mumbai-based vegetable oil brokerage and consultancy firm.
