India's palm oil imports reach 11-Month peak
India imported 953,000 metric tons of palm oil in June—a huge 61% jump from May and the highest since July 2024.
The main reason? Palm oil was nearly $100 per ton cheaper than soyoil or sunflower oil, so local refiners stocked up while prices were low.
Overall edible oil imports up
While palm oil imports shot up, soyoil imports actually dropped by 9%, and sunflower oil saw a small bump of 18%.
All together, India brought in 1.53 million tons of edible oils in June—the most since last November.
Most palm oil comes from Indonesia and Malaysia, while soyoil and sunflower oil are shipped in from countries like Argentina, Brazil, Russia, and Ukraine.
India's buying spree could push global prices higher
This isn't just about cooking oil—India's buying spree could drain stocks in Indonesia and Malaysia and push global prices higher.
For anyone interested in food trends or global trade, it's a reminder that what happens at home can shake up markets around the world.