India’s palm oil imports to hit record 10 mln T as ‘producers dump’ at discount-Ruchi Soya

India’s overseas purchases of palm oil in the year starting November are set to rise nearly eight percent to a record 10 million tonnes as producers dump the tropical oil at steep discounts, key importer Ruchi Soya said. Higher purchases by India, the world’s top importer of cooking oils, could support benchmark Malaysian palm oil futures which are trading near their lowest level in 6-1/2 years due to soft prices and concerns over China.