India surpassed China as the world’s biggest buyer of palm oil as rising incomes increased demand for fried and processed foods and drought reduced domestic cooking oil production, according to a processor group. The country imported 7 million tonnes in 2009, more than China, data from the Mumbai-based Solvent Extractors’ Association of India shows.
China’s imports jumped 23 per cent to a record 6.4 million tonnes last year, the National Grain & Oils Information Center said on Wednesday.