India imported 618,468 tonnes of palm oil in November, down from 672,363 in the same month last year, the Solvent Extractors' Association of India said in a statement

Similarly, it stated that food inflation stood at 8.21 per cent in October against 7.51 per cent of the previous month (September 2020) and 8.60 per cent during the corresponding month (October 2019) a year ago

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

From chyavanprash, honey and turmeric to ayurvedic juices, breakfast mixes and vitamin enriched cooking oil, Indian food companies are aggressively innovating to meet the growing demand for immunity-building food products

India spends around $10 billion every year on edible oil imports as the country's reliance on overseas purchases have jumped to 70% from 44% in 2001/02

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

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India, the world's largest importer of vegetable oils, buys nearly 15 million tonne annually. Of this, palm oil comprises 9 million tonne and the rest 6 million tonne is soybean and sunflower oil. Indonesia and Malaysia are the two countries which supply palm oil

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

All these Indian edible oil companies have been struggling with underutilisation of their capacities; India is the world's biggest palm oil buyer and is a major market for the world's second-largest producer Malaysia

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The lowest price of Rs 38 per kg of the bulb was reported from Gwalior in Madhya Pradesh, the Consumer Affairs Ministry data showed

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

The data released for August showed that Wholesale Price Food index rose to 5.75% in August from 4.54% in July. Food inflation shot up to 7.67% in August from 6.15% a month ago

The government has announced significant hike in the minimum support price of 14 notified kharif crops.