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06-02-2021 11:50 AM | Source: Reuters
India`s May gold imports surge, vegetable oil buying hits record high: Government Source
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MUMBAI - 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% 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 soyoil.
In value terms, May gold imports surged to $679.16 million from $76.31 million a year earlier, he said.
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