India: According to industry officials, India is expected to handle the restrictions on palm oil exports from Indonesia.
Indonesia has announced plans to limit its palm oil exports to secure domestic supply, but India is well-prepared for this change.
India has increased its edible oil imports in the past three months, reaching a record high of 4.5 million tonnes, which has lifted its stock levels to a record of 3.6 million tonnes.
This means that Indonesia’s restrictions will be fine in India, according to Ajay Jhunjhunwala, president of the Solvent Extractors’ Association of India.
Indonesia’s restrictions are unlikely to create any problems in India. Stock levels are comfortable.
Ajay Jhunjhunwala, President of the Solvent Extractors’ Association of India.
In addition, India is expected to have a higher supply of rapeseed, edible oil, from its new season’s crop.
This will further increase the availability of edible oil in the country.
Furthermore, the restrictions on Indonesia’s exports are expected to be lifted after Ramadan, which ends on April 21.
India has also seen a surge in sunflower oil imports, which reached a record high of 473,000 tonnes in January.
This has been due to top exporters Russia and Ukraine looking to reduce their stockpiles.
Palm oil buyers are expected to increase purchases from Malaysia, the world’s second-biggest exporter, but to a different extent than last year.
Indonesian farmers suffered from the export ban last year, but the restrictions are expected to be limited for a few weeks only this year.
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