India’s palm oil demand to ease Malaysia’s stockpile
India’s palm oil imports jumped in August to their highest level in more than a year, as competitive pricing relative to soyoil prompted refiners to step up purchases ahead of the festive season, a leading trade body says.
Higher palm oil imports by India, the world’s largest buyer of vegetable oils, are expected to help top producers Indonesia and Malaysia reduce inventories and support benchmark Malaysian palm oil futures.
India’s palm oil imports in August rose 15.76% to 990,528 tonnes, reaching their highest point since July 2024, the Solvent Extractors’ Association of India said. With refiners gearing up for the upcoming festive season in India, demand for edible oil, particularly palm oil, is expected to rise.
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