India steps up palm oil buying after import duty cut

The Economic Times, carrying Bloomberg reporting, says India halved its import levy on crude palm and soybean oils to 5%. Patanjali Foods executive Aashish Acharya said more than 200,000 tons of crude palm oil were bought in the week leading up to October 1 as inventories ran low. He said monthly purchases could reach 750,000 tons during peak demand if prices fall further.