MUMBAI: India's aggressive vegetable-oil buying has led to congestion at major ports, delaying vessel unloading by as much as 10 days as shore tanks fill and refiners struggle to clear incoming cargo, industry officials told Reuters.
The congestion is expected to prompt Indian refiners to scale back purchases of soyoil and palm oil for October shipments, potentially boosting inventories in top producers Indonesia, Malaysia and Argentina and weighing on benchmark palm oil futures and soyoil futures.
