India’s May palm oil imports jump 87% to sixmonth high, dealers say

India’s May palm oil imports jump 87% to sixmonth high, dealers say

India’s palm oil imports in May surged to a six-month high, as lower inventories and the tropical oil’s discount to rival soy oil and sunflower oil prompted refiners to increase purchases, according to five dealers. Higher palm oil and soy oil imports by India, the world’s biggest buyer of vegetable oils, could support Malaysian palm oil prices and U.S. soy oil futures. Palm oil imports in May surged 87% month-on-month to 600,000 metric tons, th…