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RTRS-INDIA'S DEC PALM OIL IMPORTS SEEN DOWN 23.1 PCT VS NOV, SOYOIL IMPORTS SEEN UP 254.7 PCT - AVERAGE OF REUTERS SURVEY

Posted by Flora Sawita Labels:

NEW DELHI, Jan 12 (Reuters) - India's palm oil imports are likely to decline in December over the previous month as domestic oilseeds crushing peaked, but the fall is expected to reverse next month as local supplies run out, a Reuters survey showed on Thursday.

The other reasons for the fall are a weak rupee that has made imports costlier and a tendency of palm oil to solidify at lower temperatures. It is winter in India now.

Higher imports by India, the world's top buyer of vegetable oils, in January could push the benchmark palm oil futures that inched up on Wednesday as prospects of lower edible oil output in South America and southeast Asia.

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