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The Economic Times

India's soyoil imports hit record high in August and palm six-month peak, dealers say

Oil India Sandeep Bajoria

Indian refiners imported a record amount of soyoil in August and the highest volume of palm oil in six months as they built stocks ahead of the festival season, five dealers said.

Higher palm oil and soyoil buying by the world's biggest importer of vegetable oils could help top producers Indonesia, Malaysia ‌and Argentina bring ⁠down ⁠stocks and support benchmark palm oil and soyoil futures.

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