India’s soybean oil imports hit a three-year high

India’s palm oil imports fell to their lowest since May in September as refiners switched to cheaper soybean feedstock and soybean oil, with supplies reaching a more than three-year high, the Edible Oils Association of India (SEA) reported on Wednesday. India’s palm oil shipments in September fell 16.3% to 829,000 tonnes, the lowest since May, the industry trade body reported. Soybean oil imports rose 36.8% to 503,000 tonnes, the highest since July 2022, while sunflower oil purchases increased by about 6% to 272,400 tonnes, the highest since January. According to the trade body, the decline in palm oil shipments led to a 1% month-on-month decline in India’s total edible oil imports in September, to 1.6 million tonnes. Lower ...