India has canceled up to 75,000 tonnes of soybean oil import contracts as global prices surged to ,140–,147.50 per tonne, forcing buyers to exit earlier agreements signed at ,080–,100. The cancellations allow importers to lock in – per tonne profits. This move highlights volatility in the global edible oil market amid shifting supply-demand dynamics. The decision could impact global commodity prices and trade flows, particularly in Asia, where India is a major importer.
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