Record U.S. Edible Oil Imports Expected

U.S. vegetable oil imports are likely to touch a new record as demand, especially for biofuels outstrips supplies, according to Hamburg-based oilseeds analysts Oil World. American edible oil imports will rise to 3.90 million tonnes from 3.80 million tonnes in 2010-11, it forecasts. Palm oil will be the main beneficiary, with U.S. imports likely to rise to 1.02 million tonnes from 0.96 million in the previous season, it estimates. Biodiesel production and this year s poorer soybrean crop are the main reasons, it said.

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