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Indian edible oil prices are expected to rise by mid-year as a global supply shortfall and higher freight rates from the Red Sea crisis affect imports. About 60% of India's edible oil needs are met by imports, and current domestic prices are lower than a year ago.
Higher Red Sea freight costs and tighter global supply raise landed costs for vegetable oil imports, supporting higher palm and soyoil prices into India.
moneycontrol.comPK KrishnakumarFeb 29, 2024After 15 past bullish logistics events, Palm Oil moved a median -0.1% over 5 sessions (47% higher; middle half -2.4% to +3.9%), and +0.5% over 20.
After 85 past bullish logistics events, Soybean Oil moved a median +0.7% over 5 sessions (64% higher; middle half -1.3% to +2.7%), and +3.1% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
