Energy Markets
Dealers say that India's palm oil imports in April fell by 24% and are still below normal levels.
Five dealers report that India's imports of palm oil in April were down by almost a quarter compared to the previous month. This is the fifth month consecutively below normal levels. The premium paid for the tropical oil over its rival soyoil prompted a higher purchase of soyoil. India's lower-than-normal imports of palm oil, the world’s largest buyer of vegetable oil, could put pressure on Malaysian palm oil and support U.S. soybean oil futures. According to dealers' estimates, palm oil imports fell by 24% in April compared to the previous month to 322,000 tons. Solvent Extractors' Association of India has...