India is snapping up palm oil after New Delhi slashed import duties, prompting refiners in the world’s biggest buyer to replenish depleted inventories ahead of the festival season.
More than 200,000 tons of crude palm oil have been bought in the past week after the government cut taxes on edible oil imports, said Aashish Acharya, vice president at Patanjali Foods Ltd. Inventories held by distributors and other downstream buyers are running low, adding urgency to purchases in time for Diwali, and the wedding season that follows, he added.
The buying spree could provide a fresh boost to the global palm market as supplies at top producers Indonesia and Malaysia remain ample. Malaysian inventories are at their highest in 2026. India typically imports 500,000 to 650,000 tons of palm oil a month. A sustained restocking push by the world’s biggest vegetable-oil importer could quickly absorb excess supply, supporting prices.
