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flag India's palm oil imports surged 87% in May, hitting a six-month high and may boost global oil prices.

flag India's palm oil imports soared 87% in May, reaching 600,000 metric tons, a six-month peak, due to lower inventories and the cost advantage over soy and sunflower oil. flag This surge, by the world's largest vegetable oil buyer, may bolster Malaysian palm oil and U.S. soy oil prices. flag The reduced import tax on crude oils further encouraged purchases, aiming to lower food prices and aid local refining.

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