Festival of Lights brightens future of palm oil

Inbound shipments could rise to as much as 725,000 tonnes this month as traders and refiners replenish stockpiles to meet rising demand, according to G G Patel, managing partner of GGN Research.

KUALA LUMPUR: Palm oil purchases by India, the biggest importer from Malaysia, are likely to climb in October from a three-month low as Deepavali, the Hindu festival of lights, drives up demand for the world’s most-consumed vegetable oil.

Inbound shipments could rise to as much as 725,000 tonnes this month as traders and refiners replenish stockpiles to meet rising demand, according to G G Patel, managing partner of GGN Research.