Palm oil rally about to burn its top customer

Impact of rising prices: An exhibition worker pointing to a jar of oil palm fruits at a recent palm oil event. India, the world’s biggest buyer, will shift some purchases to other edible oils this winter after palm’s surge of about 30% from last month’s low.— Bernama

NEW DELHI: Palm oil’s meteoric rally in the past few weeks will almost certainly come with a cost - shrinking sales to its largest customer.

India, the world’s biggest buyer, will shift some purchases to other edible oils this winter after palm’s surge of about 30% from last month’s low. Palm’s discount to top rival soybean oil has contracted to the smallest in almost a decade, reducing its traditional appeal as a cheaper vegetable oil.