Energy Markets
India's palm oil imports drop 41% m/m to 9-month low
India's palm oil imports in December plunged 41% from a month previously to a ninemonth low, as a rally in prices to a 21/2year high triggered refiners to increase purchases of rival soyoil readily available at a discount, a leading trade body stated. Lower palm oil imports by India, the world's greatest buyer of veggie oils, might weigh on benchmark Malaysian palm oil rates, but support U.S. soyoil futures. Palm oil imports in December was up to 500,175 metric lots, the lowest because March 2024, the Solvent Extractors' Association of India (SEA) stated in a declaration on Tuesday. Imports of...