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Cooking oil imports could slump, prices rise
25.01.2011 09:44 "Agro Perspectiva" (Kyiv) —
Cooking oil imports by India, the biggest user after China, may drop this month and in February after a jump in futures to a more than two-year peak made overseas supplies more expensive.
Purchases may decline 16 per cent to 1.25 million metric tonnes in the two months ending February 28, from 1.49 million tonnes a year earlier. eclining imports by India for a fourth month may boost palm oil stockpiles in Malaysia, the worlds second-biggest producer, likely curbing a rally in prices. Palm oil futures reached 3,905 ringgit (Dh4689.42) on January 4, the highest price since March 2008, and soybean oil rose to 59.10 cents a pound in Chicago on January 3, the highest since August 2008.
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