CURRENT AFFAIRS

2022

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

India signed a deal to support the palm oil business with which country?

A	Vietnam
B	Singapore
C	Malaysia
D	Philippines

Explanation:

Detailed explanation-1: -Synopsis. India buys palm oil from Indonesia and Malaysia, with its soyoil mainly imported from Argentina and Brazil. It purchases sunflower oil from Ukraine and Russia. Higher palm oil imports would lift India’s total edible oil imports to 14.1 million tonnes in 2022/23 from 13.8 million tonnes, the survey showed.

Detailed explanation-2: -India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soyabean oil from Argentina.

Detailed explanation-3: -Notes: he Malaysian Palm Oil Council (MPOC) and the Indian Vegetable Oil Producers’ Association (IVPA) have signed a memorandum of understanding (MoU) to expand their cooperation in promoting the usage of palm oil.

Detailed explanation-4: -Indonesia and Malaysia are by far the largest palm oil producing nations. Together they account for 85-90 percent of the total production of this vegetable oil. Other important producing countries are Colombia, Nigeria and Thailand.

There is 1 question to complete.