Agri Picks Report May 15, 2024: Geojit Financial Services

Geojit Financial Services's report on Daily Agri Picks

India's vegetable oil imports rose 26% on year to 1.32 mln tn in April from 1.05 mln tn last year, the Solvent Extractors' Association of India said in a release today. India is the world's largest importer of edible oils. "In the last one month, the price trend has been downward, which encouraged higher imports during April," SEA said. The vegetable oil basket comprises edible and non-edible oils. India's edible oil imports in April rose by 28% on year to 1.30 mln tn. The international prices of refined, bleached and deodorised palmolein and crude palm oil declined by nearly $100 per tn. Similarly, soybean oil prices were down by $40 per tn, while sunflower oil prices were down $15 per tn in the last one month, SEA said. However, sunflower oil prices seem to have stabilised after reaching a low point, the association said. Imports of crude palm oil rose 36% on year to 536,248 tn in April, SEA said in the release. However, imports of sunflower oil in April fell to 234,801 tn, compared with 249,122 tn a year ago.

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