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India’s Palm Oil Imports Could Fall 11 Year Low

Published on May 26, 2022
Current Context: As per recent data it is estimated that palm oil imports would go down due to allowing duty-free imports of soy oil.
India’s Palm Oil Imports Could Fall 11 Year Low
  • The other reason which led to fall in prices was Indonesia's curb on exports to India.
  • It is also expected that India's palm oil imports in 2021-22 could fall to 6.7 million tonnes by Oct 31st which is the lowest since 2010.
  • Apart from that government has allowed duty-free imports of 2 million tonnes each of crude soy oil and crude sunflower oil for the current and next fiscal years.
  • These steps have been taken by keeping in mind local edible prices.
  • On one side, Indonesia came into the picture by revoking the ban after three weeks but it’s uncertain about how much quantity to be exported to India.

Question:

Q.1 According to recent data Indian palm oil imports would fall to how much percentage?
a. 21%
b. 19%
c. 23%
d. 18%
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