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Bloomberg
Palm oil imports by India, the world’s biggest buyer, climbed for an eighth straight month in September as lower international prices prompted traders and refiners to buy more to meet festival demand.
Imports advanced 20.4 percent to 931,637 metric tons in September from a year earlier, the Solvent Extractors’ Association of India said. Total vegetable oil purchases, including sunflower oil and those for industrial use, rose 8.5 percent to 1.52 million tons.
Palm oil demand generally spikes during the festive period in India, the world’s biggest importer, as Hindus celebrate major festivals such as Dussehra and Diwali between September and November. Vegetable oils are an important part of the festivities as consumption of sweets to fried foods increases.