India's palm oil imports rose by about 10 per cent to 8,73,592 tonnes in November on account of sluggish global prices and zero export duty by Indonesia and Malaysia, industry body SEA said today.
Record harvests and falling oil prices have helped to push food prices to a four-year low, improving the affordability of food in nearly three quarters of countries surveyed.
Cassava, the starch rusty-coloured root that is a staple in Nigeria, is a paradigm of the problem the import-dependent nation now faces as the plunge in oil prices crimps the economy.