Energy Markets
India's palm oil imports in June jump 60%, reaching an 11-month high
An industry group said that India's imports of palm oil reached an 11-month peak in June, as refiners increased purchases because they were offered a discount on soyoil or sunflower oil and also to replenish their depleted stocks. India's increased palm oil imports, as the world's largest buyer of vegetable oil, will help to reduce stocks in top producers Indonesia, and Malaysia, and support benchmark Malaysian Palm Oil futures. Solvent Extractors' Association of India said that palm oil imports increased by 60% in June compared to May, reaching 955,683 metric tonnes, a record high since July 2024. The industry association...