Scorching prices slow palm oil imports by top consumers India, China

Malaysia's benchmark crude palm oil prices FCPOc3 have soared 45% so far this year, boosted by a cocktail of labour shortages, export restrictions by top producer Indonesia and disruption to sunflower oil supply from Russia's invasion of Ukraine.

KUALA LUMPUR: The world's biggest palm oil buyers China and India are slowing down imports as prices rocket to historical high levels, even as Russia's invasion of Ukraine disrupts global edible oil supply, industry officials said on Thursday.

Malaysia's benchmark crude palm oil prices FCPOc3 have soared 45% so far this year, boosted by a cocktail of labour shortages, export restrictions by top producer Indonesia and disruption to sunflower oil supply from Russia's invasion of Ukraine.