India's June vegetable oil imports drop 29% to lowest this oil year as palm discount narrows
Imports fell to 11.46 lakh tonne in June from 16.16 lakh tonne a year earlier, per SEA. Palm oil slipped 10.5% MoM to 487,000 tonne and soybean oil fell 23% to 381,000 tonne. Tightening supply and a shrinking palm discount signal upward pressure on cooking-oil pricing across grocery and FMCG categories.
India's June vegetable oil imports fell 29% YoY to 11.46 lakh tonne, the lowest this oil year, as palm oil's discount narrowed. Edible oil supply and pricing directly affect Indian grocery and FMCG cooking-oil categories.