India’s record palm oil imports to be tempered by soaring soy oil demand in 2016

In India, palm oil imports are expected to rise marginally by 100,000 metric tons through October 2016 from current record imports to 9.7 million tons. Concerns about impacts from El Niño on palm oil production has seen prices rise, limiting imports, with increased demand instead likely to be served by soy oil. India and China are typically the main importing countries impacting demand and therefore prices for palm oil. Increased domestic demand for biodiesel in both Malaysian and Indonesia will also help to support prices in the coming year.