India seen coping with Indonesia curbs on palm oil exports

Last week, Indonesia said it will suspend some palm oil export permits to secure domestic supply as cooking oil prices rise ahead of upcoming Islamic festival Ramadan. India's edible oil imports in the first quarter of the 2022/23 marketing year - which started on Nov. 1 - rose 25% from a year ago to around 4.5 million tonnes, dealers said. The imports have lifted stocks to a record 3.6 million tonnes as of Feb. 1 compared to 1.83 million tonnes a year ago, they estimated. Last week, Indonesia said it will suspend some palm oil export permits to secure domestic supply as cooking oil prices rise ahead of upcoming Islamic festival Ramadan. The imports have lifted stocks to a record 3.6 million tonnes as of Feb. 1 compared to 1.83 million tonnes a year ago, they estimated.