India edible oil imports climb 6.7% in May to 13.39 LMT as soyaoil eclipses palm
Crude soyabean oil shipments jumped to 493,854 tonnes from 398,585 tonnes as its premium over palm narrowed. Higher duty differential keeps crude flows favoured over refined, with Nov-May cumulative imports up 13% at 92.17 LMT — a tailwind for domestic refiners and branded oil players.
India's edible oil imports rose 6.7% YoY in May to 13.39 lakh tonnes, led by crude soyabean oil as its premium over palm oil narrowed. Government's higher duty differential continues to favour crude over refined imports, boosting domestic refining.