Energy Markets
India's palm oil imports in September hit a 4-month low; soyoil jumps up to a 3-month high
Five dealers claim that India's palm-oil imports fell in September to the lowest level for four months as refiners substituted palm oil with soyoil. India's increasing soyoil and lower palm oil imports could impact the benchmark Malaysian palm futures, while supporting U.S. soybean futures. According to dealers, palm oil imports dropped 15.9% on a monthly basis in September, to 833,000 tons, the lowest level since May. Dealer estimates show that soyoil imports have risen 37.3%, to 505,000 tonnes, to their highest level since July 20, 22. Meanwhile, sunflower oil imports are up 5.8%, to 272,000 tons, an eight-month record. Estimates...