India starts raising palm oil buying as prices fall below soyoil

India has started raising palm oil purchases after a lull of five months as a correction in prices has made the tropical oil cheaper than rival soyoil, encouraging refiners to place orders to replenish inventories. Higher purchases by India, the world’s biggest buyer of palm oil, will support benchmark Malaysian palm oil futures, which have fallen nearly 10 per cent so far in 2025. “Indians had pulled back on buying palm oil because it was too pricey. But now that it’s cheaper than soyoil, refiners are placing orders,” said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage. Crude palm oil (CPO) is currently being offered at about $1,050 a ton, including cost, insurance and freight (CIF), in India for May delivery, compared to around $1,100 for crude soyoil, dealers said. Indian buyers started trimming purchases from December as palm oil’s premium over soyoil jumped above $100. India imported 1.57 million tons of palm oil from December to March. Shipments for ...