India's palm oil imports are projected to fall about 21% to 7.4 million tons in the crop year starting November, the lowest since 2010-11. The drop follows restaurant and hotel closures under the nationwide lockdown, which cut food-service demand for the oil.
Benchmark palm oil prices have already fallen about 35% this year.
India is the world's largest vegetable oil buyer, so a sharp cut in its purchases removes a major source of demand and adds downward pressure on palm oil prices.
過去の弱気な貿易イベント158件の後、パーム油 は5営業日で中央値 +0.0% 動き(51% が上昇。中央50%は -1.3% から +0.8%)、20営業日では -1.4% 動きました。
イベント直前の終値からの各商品ベンチマークの動き。過去の傾向は同種の過去イベントをまとめたものであり、起きたことを示すもので、今後を示すものではありません。投資助言ではありません。
India, the top buyer, is projected to cut palm oil imports to a nine-year low as food-service demand collapses, a bearish demand signal on 5 May.