India's palm oil imports edged up approximately 5% from October to 632,341 metric tons in November as refiners capitalized on a widening price discount, according to data published December 15 by the Solvent Extractors' Association of India. The tropical oil now trades roughly $100 per tonne below soyoil and nearly $200 cheaper than sunflower oil, prompting buyers to secure additional shipments for December and January delivery.
Purchases of soyoil fell more than 18% to 370,661 tons while sunflower oil imports plunged 45% to 142,953 tons—a two-year low—bringing total edible oil arrivals down 13.3% month-on-month to 1.15 million tons. The shift by India, the world's largest vegetable oil buyer, is expected to help top producers Indonesia and Malaysia reduce stockpiles and lend support to benchmark Malaysian palm oil futures traded on Bursa Malaysia.