The bank, however, said it expects the winter wave to hit global oil demand by at least 3 million barrels per day, partially offset by heating, restocking and demand in emerging markets

Higher imports by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil prices that hit their highest level in eight years this month, but could weigh on U.S. soyoil futures

India's monthly palm oil imports could dip to 600,000 tonnes in January from around 750,000 tonnes in October if the current narrow price gap remains, said a Mumbai-based dealer with a global trading firm

Palm oil accounts for nearly two-thirds of India's total imports of edible oil, mainly sourced from Indonesia and Malaysia

Asian markets were ended positive led by Nikkei, ahead of Bank of Japan monetary meet. Federal Reserve and the European Central Bank will meet later in the week, while Bank of Japan has begun the policy meeting today.

Following the update, share price of JK Paper climbed 14.4% to an intraday high of Rs 104.5 as against its previous closing value of Rs 91.35 on BSE.

At the interbank foreign exchange the rupee opened at 76.14, then gained ground and touched 76.05, registering a rise of 41 paise over its previous close

Palm oil exports from the world's second-largest producer, Malaysia, rose 8.8% in the April 1-25 period from the month before, according to AmSpec Agri Malaysia

Oil prices rose on Wednesday as investors looked for bargains after the previous session's slump and on hopes that consuming countries will look to fill their strategic reserves

Edible oil demand: The consumer will pay 10% less i.e. Rs 8 a litre for palm oil and soyabean oil and 7% less at Rs 5 a litre for sunflower oil owing to fall in global prices due to coronavirus outbreak

The 94-year-old premier of Muslim-majority Malaysia has criticised India's new religion-based citizenship law and also accused India of invading the disputed region of Kashmir

WEF 2020 latest news: Trade ministers from India and Malaysia likely to meet on the sidelines of the Davos Worldwide Economic Forum next week. Here's what is likely to be discussed

Palm oil is crucial for Malaysian economy as it accounted for 2.8% of Malaysia's gross domestic product last year and 4.5% of total exports

India's top vegetable oil trade body on Monday asked its members to stop buying Malaysian palm oil after Mahathir said at the U.N. General Assembly last month that India had 'invaded and occupied' Kashmir

In Mumbai, the prices fell by Rs 50 for 10 gram of 22-carat gold, and by Rs 55 to Rs 31,854 per 10 gram of 24-carat gold