Indian Refiners Reduce Palm and Soybean Oil Purchases Amid Expected Price Stabilization

Indian refiners have decreased their purchases of palm and soybean oil, anticipating a stabilization in oil prices driven by the ongoing conflict, according to Jin10. Traders report that the decision comes as the market expects the surge in oil prices, influenced by geopolitical tensions, to ease. This adjustment in procurement strategy reflects a broader sentiment among industry players who are closely monitoring the situation and its potential impact on commodity prices. The move by Indian refiners is seen as a precautionary measure to mitigate risks associated with volatile market conditions.