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India's Feb vegoil imports down on high local supply
14.03.2011 17:03 "Agro Perspectiva" (Kyiv) —
India imported 549,881 tonnes of vegetable oils in February, down by about a fifth
from a year ago, trade data released on Monday showed, a
fall largely due to higher crushing of domestic oilseeds
following a normal monsoon.
India, the worlds No. 1 importer of cooking oils, buys
mainly palm oil from Indonesia and Malaysia and a small
quantity of soyoil from Argentina and Brazil.
It imported 700,769 tonnes in February 2010, about 21.5 percent more than the imports in February this year.
A Reuters survey of traders had predicted a 26 percent fall
in the annual imports of vegetable oils in February, including
non-edibles.
In February, vegetable oil imports fell 24 percent from the
previous month to 549,881 tonnes, data from the Solvent
Extractors Association of India (SEAI) showed. The
Reuters poll had forecast a 28 percent monthly drop.
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