★ India, the world’s largest importer and consumer of edible oils, is reportedly witnessing cancellations of around 70,000 tonnes of crude soybean oil booked for December–January delivery by oil refineries. Higher global prices and a weaker Indian rupee have shifted buyers’ preference towards palm oil. Meanwhile, stocks at Indian ports are declining, which may further support price sentiment in the coming weeks.

★ Crude soybean oil stocks at Indian ports have fallen sharply by 18% over the past 15 days, reaching 2,15,550 tonnes as of November 30. Although the overall port stock remains almost stable, the decline in soybean oil inventory is significant.

★ Oil stocks at China and Pakistan ports have also decreased, suggesting that Asian markets may experience supply-side tightness. A weaker rupee makes imports costlier, providing additional support to domestic price levels. If edible oil prices strengthen further, soybean seed prices may also gain momentum.

★ According to I-Grain India, soybean oil prices could rise by about ₹20 per 10 kg and soybean could gain nearly ₹150 per quintal by the end of December, if current conditions persist.