In September, India reduced palm oil imports to a 4-month low and increased soybean imports to a 3-year high.

According to five dealers, in September, India reduced its palm oil imports compared to the previous month by 15.9% to a 4-month low of 833 thousand tons, as processing plants replaced palm oil with significantly cheaper soybean oil. At the same time, soybean oil imports increased by 37.3% to a 3-year high of 505 thousand tons, and sunflower oil imports increased by 5.8% to an 8-month high of 272 thousand tons. Total imports of vegetable oils in September decreased by 0.7% to 1.61 million tons. Import data do not include duty-free supplies received via the land border with Nepal, dealers report. The reduction in palm oil imports and the increase in soybean oil imports by India, the world's largest buyer of vegetable oils, will increase pressure on Malaysian palm oil futures FCPO1 and support soybean oil prices in the USA. After active palm ...