Indian dealers estimate soybean oil imports for June at 381,000 tonnes, a 23% decrease from the previous month.
As a major global importer of soybean oil, India's projected imports of 381,000 tonnes for June—down 23% month-on-month—reflect weak local demand, a factor exerting bearish pressure on spot prices. On July 3, the most active soybean oil contract (2609) on the Dalian Commodity Exchange closed at 8,406 RMB/tonne, down 19 RMB/tonne from the previous trading day; open interest rose by 3,158 lots, signaling a bearish trend in the short term.
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