India’s palm oil imports fell to five-month low in October

This low level of imports marks the smallest volume since May 2025, when shipments slowed due to high international prices and lackluster festival demand. Industry sources attribute the decline primarily to ample inventories in Indian ports and warehouses, which hold over 1.2 million tonnes of edible oils, reducing the urgency for fresh imports. Additionally, weak demand from the food sector has curtailed buying interest. Refiners have notably shifted preferences toward cheaper soft oils such as soybean and sunflower oil, which have become more economically attractive amid narrowing price gaps relative to palm oil. This import slowdown has broader market implications. India’s reduced palm oil purchases have exerted downward pressure on Malaysian palm oil futures, the global benchmark for the commodity. Conversely, U.S. soybean oil futures have seen relative support as Indian buyers increase their purchases of alternative vegetable oils. Reports indicate that soybean oil imports ...