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India’s palm oil imports in 2022/23 could rise 23% year-on-year to 9.5 million tons, the highest in eight years, as an upturn in consumption and competitive prices prompt refiners to cut their purchases. increase, said the country’s largest palm oil buyer.
“Palm is very attractive as prices are under pressure due to inventories,” said Sanjeev Asthana, chief executive officer of Patanjali Foods Ltd on the sidelines of the Globoil conference.
Palm oil’s big discount to soybean oil is unsustainable and is likely to shrink in the coming months, he said
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