India’s June palm oil imports surged 49% from the previous month, reaching their highest level in three months. The rise in purchases was driven by a dip in prices to their lowest in 28 months, prompting buyers to take advantage and increase their imports. This increase in buying activity is expected to support Malaysian palm oil futures and help trim inventories in top producing countries such as Indonesia and Malaysia. In June, palm oil imports by India rose to 655,000 metric tons, up from 439,173 metric tons in May. This significant increase in imports can be attributed to the lower imports in May and the price correction, which encouraged Indian buyers to increase their purchases. According to industry experts, price-sensitive Asian buyers typically rely on palm oil due to its low cost and quick shipping times. In addition to palm oil, India’s soyoil imports also surged in June, rising 35% from the previous month to 432,000 metric tons. The negligible price difference between soyoil and palm oil in recent months has driven buyers to increase their purchases of soyoil. On the other hand, sunflower oil imports in June dropped 36% from the previous month to 190,000 metric tons. India primarily buys palm oil from Indonesia, Malaysia, and Thailand, while soyoil and sunflower oil are imported from Argentina, Brazil, Russia, and Ukraine. The Solvent Extractors’ Association of India is expected to publish its June vegetable oil import data by mid-July.