Indian Palm Oil Imports Tumble to 14-Month Low

Dealers note that the retreat in purchasing is not limited to palm oil; imports of soyoil and sunflower oil have also shriveled, pushing total edible oil imports down by 16.6%. Refiners are adopting a defensive posture, wary of high gas prices and an ongoing energy crisis that has hampered consumer appetite across the country.

This cooling period in the Indian market threatens to swell stockpiles in Indonesia and Malaysia, the primary exporters to the region. As demand wanes, the surplus pressure is already rippling through the trade, with potential volatility ahead for Malaysian palm oil futures as producers grapple with this sudden lack of absorption from their biggest buyer.