Home Finance Gold imports may rise, vegetable oil purchases at record high: Report

Gold imports may rise, vegetable oil purchases at record high: Report

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MUMBAI (Reuters) – India’s gold imports in May rose more than nine times to 12 tonnes from last year’s low, while A government source told Reuters on Wednesday that imports rose 148% in the month to a record $1.4 billion.

The South Asian country is the world’s second largest consumer of gold and the largest importer of vegetable oils such as palm oil, sunflower oil and soya oil.

In value terms, gold imports rose to $679.16 million in May from $76.31 million a year ago, he said.

(Reporting by Aftab Ahmed and Rajendra Jadhav; Editing by Himani Sarkar)

(Only the title and image in this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

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