According to the sources, India's edible oil imports climbed to their highest ​level in 10 months in ​July as refiners increased purchases of palm oil and ​soyoil to replenish inventories ahead of the festival season amid tightening domestic supplies, five dealers said. Higher palm oil and soyoil buying by the world's biggest importer of vegetable oils ‌could help ⁠top producers ⁠Indonesia, Malaysia and Argentina in bringing down stocks and support benchmark palm oil and ​soyoil futures. Palm oil imports jumped 50% from a month ago to 733,000 metric tons in ​July, the highest in five months, dealers' average estimates showed. Soyoil imports rose 32% month-on-month in July to 501,000 tons, the highest in seven months, while sunflower oil shipments edged higher by 4% ⁠to 253,000 ‌tons. India's edible oil imports surged 34% from June to ​a 10-month ​high of 1.49 million tons in July, driven by higher ⁠imports of all three major edible oils, estimates showed. (ICE NEW DELHI)

Fonte notizia: Economic Times