Higher palm oil purchases by India will help top producer Indonesia and Malaysia to bring down stocks and support benchmark Malaysian palm oil futures .

Palm oil imports are likely to jump 13.4% to 9.3 million tons while soyoil imports are likely to dip to 5 million tons in the new marketing year from November 1, Mistry told delegates at an industry conference Globoil India.

Sunflower oil imports in the new season are likely to fall to 2.7 million tons from 3 million tons this year, Mistry said.

India buys palm oil mainly from Indonesia and Malaysia while importing soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

Global palm oil production growth is slowing, with output in 2025/26 projected to rise by only 1 million tons even as demand for food and biofuels climbs, Mistry said.

Malaysian palm oil futures are expected to rise once the peak production period ends in October and could surpass 5,000 ringgit ($1,185) a ton in November–December, he said.