India Oct refined palm oil imports down 45 pct m/m

Because of the cheaper Indonesian palm oil, India has now taxes its imports dramatically in order to boosted the local farming. It has caused the oil market to fall sharply in October.

India, is the worlds largest consumer of oil products and in October alone imported over 61,000 tonnes of palm oil which is just less the 50% of its annul shipment of over 100,000 tonnes.