India starts raising palm oil buying as prices fall below soyoil

After a five-month slowdown, India is increasing its palm oil purchases due to a price correction that has made it cheaper than soyoil. Refiners are replenishing inventories, which will likely support Malaysian palm oil futures. Imports are expected to rise above 500,000 tons in May and potentially exceed 700,000 tons monthly from July to September as stocks have depleted.