Commodities

India's May gold imports surge, vegetable oil buying hits record high

Reuters MUMBAI | Updated on June 02, 2021

Spike in vegetable oil imports by 148 per cent to $1.4 billion.

India's gold imports in May surged more than nine-fold from last year's low base to 12 tonnes, while vegetable oil imports in the month spiked 148 per cent to a record $1.4 billion, a government source told Reuters on Wednesday.

 

The South Asian country is the world's second-biggest consumer of gold and the biggest importer of vegetable oils such as palm oil, sunflower oil and soy oil.

In value terms, May gold imports surged to $679.16 million from $76.31 million a year earlier, he said.

Published on June 02, 2021

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