BMI Raises Palm Oil Outlook Amid Strong India Demand

at RM4,335 per tonne on October 27, bringing the year-to-date average to RM4,332 per tonne — broadly consistent with the revised full-year forecast. “Indian palm oil imports surged 43.1% quarter-on-quarter in Q3 2025, exceeding expectations and driving prices higher,” BMI said, noting that palm oil captured 56.9% of India’s edible oil imports during the quarter, up from 52.4% in Q2. “The strong uptake was driven by palm oil’s favourable pricing versus soy and sunflower oils, particularly during India’s festive season,” the report added. However, BMI cautioned that palm oil’s competitive edge is narrowing. Since August, global soy oil prices have declined while CPO prices edged higher, reducing the import price gap that favoured palm oil. As a result, India’s palm oil share of total edible oil imports is projected to moderate to around 50% in Q4, as soy oil regains some market share. BMI projects global palm oil production to reach 80.1 million tonnes in the 2025/26 season, up 1.8% ...