El Nino effect: Oilseed imports surge in April

India significantly increased oilseed imports in April, driven by El Nino fears. Soybeans constituted ninety-five percent of these substantial oilseed purchases. This surge followed a domestic production decline and made imports commercially attractive. Industry experts noted the unusual jump in imports due to higher domestic prices. India relies heavily on imports for its edible oil requirements.

Raccontata daeconomictimes.indiatimes.com