India palm oil imports seen rising for fourth month on low price
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New Delhi
INDIA'S palm oil purchases probably climbed for a fourth straight month in May as a drop in global prices boosted demand amid a stronger local currency.
Imports rose 21 per cent to 798,000 tonnes from a year earlier, according to the median of five estimates in a Bloomberg survey of processors, brokers and analysts. Total vegetable oil purchases rose about 29 per cent to 1.32 million tonnes, the survey showed. The Solvent Extractors' Association of India is set to release trade data in the middle of the month.
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