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Weak currency will further curb Indian palm oil imports: industry

India's edible oil imports for the year to October 2018 may be nearly flat on 2017 as a weaker rupee adds to the impact of a tax hike on the country's most imported edible oil, a Mumbai-based trade body said, revising down earlier forecasts. Refiners are still able to import soft oils such as soyoil and sunflower oil at a profit, but imports of palm, which attracts the country’s biggest import duty, have been hard hit, said B.V. Mehta, executive director of the Solvent Extractors’ Association (SEA).........Read more