Due to limited supply from drought-stricken South America, Indian exporters have arranged to import a record 100,000 tonnes of soyoil from the United States.
India is the world’s largest edible oil importer.
It generally buys soyoil from Brazil and Argentina.
But this year’s low bean output in these two leading producer countries has forced India to sign a contract with the producers from the United States for import of the oil.