Jun 10 2010 3:44PM
MUMBAI (Dow Jones)--India's soyoil imports in the 2009-10 marketing year are likely to rise more than 50% from a year earlier as the premium over palm oil has narrowed, a senior industry executive said Thursday.
Total soyoil imports in the marketing year to Oct. 31 are likely to be in the range of 1.5 million-1.6 million metric tons, up from 989,613 tons a year earlier, said Pradip Desai, managing director of Mumbai-based importer Palmtrade Services Pvt. Ltd.
Soyoil normally commands a premium over palm oil due to its better quality, but over the past year the premium has shrunk to about $30-$40 per ton from about $100-$150/ton.
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